SPS Commerce (NASDAQ:SPSC) Rating Reiterated by Needham & Company LLC

SPS Commerce (NASDAQ:SPSC)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $205.00 price target on the software maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 14.55% from the stock’s current price.

Several other brokerages also recently weighed in on SPSC. StockNews.com downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup initiated coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce presently has an average rating of “Moderate Buy” and an average target price of $196.57.

SPS Commerce Trading Up 5.6 %

Shares of NASDAQ SPSC opened at $178.96 on Friday. SPS Commerce has a 12 month low of $140.00 and a 12 month high of $218.74. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. The business has a 50-day moving average of $178.97 and a 200-day moving average of $179.08.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. On average, analysts predict that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Activity at SPS Commerce

In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the transaction, the chief operating officer now owns 44,369 shares in the company, valued at $7,954,030.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Kimberly K. Nelson sold 5,965 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total value of $1,092,609.05. Following the sale, the chief financial officer now directly owns 147,553 shares of the company’s stock, valued at $27,027,283.01. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James J. Frome sold 12,887 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the sale, the chief operating officer now directly owns 44,369 shares in the company, valued at $7,954,030.63. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

Institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of SPS Commerce in the fourth quarter worth $26,000. NBC Securities Inc. purchased a new stake in shares of SPS Commerce in the third quarter worth $35,000. CVA Family Office LLC purchased a new stake in shares of SPS Commerce in the fourth quarter worth $44,000. UMB Bank n.a. boosted its position in shares of SPS Commerce by 224.7% during the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock valued at $44,000 after buying an additional 164 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in shares of SPS Commerce during the third quarter valued at $42,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.