SPS Commerce (NASDAQ:SPSC) Reaches New 52-Week Low – Here’s What Happened

SPS Commerce, Inc. (NASDAQ:SPSC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $130.43 and last traded at $132.11, with a volume of 2348 shares traded. The stock had previously closed at $132.00.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPSC. Needham & Company LLC cut their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird cut their target price on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler cut their target price on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus cut their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Northland Securities restated a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Price Performance

The company has a market capitalization of $4.94 billion, a PE ratio of 64.29 and a beta of 0.88. The company’s 50 day simple moving average is $172.96 and its 200 day simple moving average is $183.83.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, equities analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 2,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the sale, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,695 shares of company stock valued at $7,781,086 over the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its holdings in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. acquired a new stake in SPS Commerce in the fourth quarter valued at $40,000. Hurley Capital LLC acquired a new stake in SPS Commerce in the fourth quarter valued at $41,000. Blue Trust Inc. lifted its holdings in SPS Commerce by 49.1% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker’s stock valued at $47,000 after acquiring an additional 84 shares during the period. Finally, R Squared Ltd acquired a new stake in SPS Commerce in the fourth quarter valued at $57,000. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Company Profile

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.