First Analysis upgraded shares of SPS Commerce (NASDAQ:SPSC) from a neutral rating to an outperform rating in a report published on Friday morning, BenzingaRatingsTable reports.
SPSC has been the topic of several other research reports. Canaccord Genuity raised their price target on SPS Commerce from $95.00 to $110.00 and gave the company a buy rating in a research note on Wednesday, February 13th. ValuEngine upgraded SPS Commerce from a buy rating to a strong-buy rating in a research note on Wednesday, February 13th. Zacks Investment Research lowered SPS Commerce from a buy rating to a hold rating in a research note on Saturday, March 2nd. reiterated an outperform rating and issued a $112.00 target price (up previously from $95.00) on shares of SPS Commerce in a research note on Wednesday, February 13th. They noted that the move was a valuation call. Finally, Oppenheimer lifted their target price on SPS Commerce from $112.00 to $120.00 and gave the company an outperform rating in a research note on Monday, March 18th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $108.42.
Shares of SPS Commerce stock opened at $107.13 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 87.81, a PEG ratio of 4.79 and a beta of 0.81. SPS Commerce has a 12 month low of $67.14 and a 12 month high of $115.00.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, April 25th. The software maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.30 by $0.30. The firm had revenue of $66.93 million for the quarter, compared to analyst estimates of $66.16 million. SPS Commerce had a return on equity of 8.83% and a net margin of 10.71%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, analysts forecast that SPS Commerce will post 1.49 EPS for the current year.
In other SPS Commerce news, CEO Archie C. Black sold 1,705 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $104.09, for a total value of $177,473.45. Following the completion of the sale, the chief executive officer now owns 90,007 shares of the company’s stock, valued at $9,368,828.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly K. Nelson sold 4,213 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $94.00, for a total value of $396,022.00. Following the completion of the sale, the chief financial officer now directly owns 48,529 shares of the company’s stock, valued at approximately $4,561,726. The disclosure for this sale can be found here. In the last three months, insiders sold 35,984 shares of company stock valued at $3,752,731. Corporate insiders own 3.34% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in SPS Commerce by 10.1% in the third quarter. Bank of New York Mellon Corp now owns 221,890 shares of the software maker’s stock valued at $22,020,000 after acquiring an additional 20,390 shares during the period. Dimensional Fund Advisors LP acquired a new position in SPS Commerce in the third quarter valued at approximately $10,748,000. JPMorgan Chase & Co. lifted its holdings in SPS Commerce by 411.8% in the third quarter. JPMorgan Chase & Co. now owns 233,022 shares of the software maker’s stock valued at $23,125,000 after acquiring an additional 187,488 shares during the period. Verition Fund Management LLC acquired a new position in SPS Commerce in the third quarter valued at approximately $338,000. Finally, MetLife Investment Advisors LLC lifted its holdings in SPS Commerce by 56.7% in the third quarter. MetLife Investment Advisors LLC now owns 11,831 shares of the software maker’s stock valued at $1,174,000 after acquiring an additional 4,281 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
Read More: Cash Flow Analysis in Stock Selection
Receive News & Ratings for SPS Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPS Commerce and related companies with MarketBeat.com's FREE daily email newsletter.