Needham & Company LLC Reiterates “Buy” Rating for SPS Commerce (NASDAQ:SPSC)

Needham & Company LLC reiterated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $230.00 price target on the software maker’s stock.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Robert W. Baird upped their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Piper Sandler initiated coverage on shares of SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

SPS Commerce Stock Performance

Shares of SPSC opened at $187.42 on Wednesday. SPS Commerce has a fifty-two week low of $160.58 and a fifty-two week high of $218.74. The firm’s 50-day simple moving average is $187.90 and its two-hundred day simple moving average is $191.31. The stock has a market cap of $7.04 billion, a PE ratio of 89.67 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. The company had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts predict that SPS Commerce will post 2.38 EPS for the current year.

Insider Activity

In other SPS Commerce news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SPS Commerce

Large investors have recently made changes to their positions in the company. Trust Co. of Vermont bought a new position in shares of SPS Commerce in the 4th quarter worth approximately $69,000. Bouvel Investment Partners LLC raised its position in SPS Commerce by 1.1% in the fourth quarter. Bouvel Investment Partners LLC now owns 18,258 shares of the software maker’s stock worth $3,359,000 after acquiring an additional 200 shares during the period. Park Avenue Securities LLC boosted its stake in shares of SPS Commerce by 19.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,528 shares of the software maker’s stock worth $833,000 after acquiring an additional 727 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of SPS Commerce by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 186,344 shares of the software maker’s stock valued at $34,285,000 after acquiring an additional 69,029 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of SPS Commerce by 18.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,040 shares of the software maker’s stock worth $191,000 after purchasing an additional 160 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors.

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.