SPS Commerce (NASDAQ:SPSC) Shares Gap Up After Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC)’s stock price gapped up before the market opened on Friday after Robert W. Baird raised their price target on the stock from $172.00 to $178.00. The stock had previously closed at $169.43, but opened at $180.00. Robert W. Baird currently has a neutral rating on the stock. SPS Commerce shares last traded at $181.96, with a volume of 55,382 shares traded.

Other analysts have also recently issued reports about the company. Citigroup began coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target on the stock. StockNews.com cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $205.00 price target on shares of SPS Commerce in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $196.57.

Insiders Place Their Bets

In other SPS Commerce news, COO James J. Frome sold 2,901 shares of SPS Commerce stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the sale, the chief operating officer now directly owns 54,029 shares in the company, valued at approximately $9,904,596.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Archie C. Black sold 12,875 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total value of $2,310,032.50. Following the completion of the sale, the director now owns 89,940 shares of the company’s stock, valued at approximately $16,137,034.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James J. Frome sold 2,901 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total transaction of $531,811.32. Following the completion of the transaction, the chief operating officer now directly owns 54,029 shares of the company’s stock, valued at $9,904,596.28. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock valued at $12,122,275 in the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Trading of SPS Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPSC. McGlone Suttner Wealth Management Inc. bought a new stake in shares of SPS Commerce in the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in SPS Commerce in the third quarter valued at approximately $35,000. CVA Family Office LLC acquired a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $44,000. UMB Bank n.a. boosted its stake in shares of SPS Commerce by 224.7% during the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after acquiring an additional 164 shares during the period. Finally, RiverPark Advisors LLC acquired a new position in shares of SPS Commerce during the 3rd quarter worth approximately $42,000. 98.96% of the stock is owned by institutional investors.

SPS Commerce Stock Performance

The business has a fifty day moving average of $179.25 and a two-hundred day moving average of $179.04. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 101.68 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. SPS Commerce had a net margin of 12.26% and a return on equity of 12.18%. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.13 EPS for the current fiscal year.

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.