Northland Securities Reiterates Market Perform Rating for SPS Commerce (NASDAQ:SPSC)

Northland Securities reissued their market perform rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report released on Tuesday,Benzinga reports. They currently have a $181.00 price objective on the software maker’s stock, down from their prior price objective of $209.00.

Other research analysts have also issued research reports about the company. Piper Sandler started coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Robert W. Baird lifted their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Wednesday, January 15th. Citigroup reduced their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Stifel Nicolaus reduced their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, SPS Commerce has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Performance

Shares of SPS Commerce stock opened at $148.50 on Tuesday. SPS Commerce has a 52-week low of $147.27 and a 52-week high of $218.61. The stock’s 50-day simple moving average is $186.73 and its 200 day simple moving average is $189.28. The stock has a market capitalization of $5.58 billion, a P/E ratio of 71.05 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. Equities research analysts forecast that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares of the company’s stock, valued at $28,864,006.56. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,230 shares of company stock valued at $6,379,187. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of SPS Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after buying an additional 44,946 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in SPS Commerce in the third quarter valued at approximately $3,178,000. Synovus Financial Corp bought a new stake in SPS Commerce in the third quarter valued at approximately $1,809,000. JPMorgan Chase & Co. lifted its position in SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock valued at $49,404,000 after purchasing an additional 104,210 shares during the last quarter. Finally, State Street Corp lifted its position in SPS Commerce by 1.1% in the third quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after purchasing an additional 16,357 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.