SPS Commerce, Inc. (NASDAQ:SPSC) Given Average Recommendation of “Moderate Buy” by Brokerages

SPS Commerce, Inc. (NASDAQ:SPSC) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $219.22.

A number of equities analysts have issued reports on SPSC shares. Piper Sandler began coverage on SPS Commerce in a research report on Monday, November 25th. They set a “neutral” rating and a $198.00 price target on 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. Citigroup cut their price target on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Robert W. Baird increased their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a research note on Wednesday, January 15th.

SPS Commerce Stock Down 1.0 %

SPSC stock opened at $178.31 on Friday. SPS Commerce has a 52-week low of $160.58 and a 52-week high of $218.74. The firm has a market cap of $6.70 billion, a P/E ratio of 85.32 and a beta of 0.88. The company’s 50-day simple moving average is $188.96 and its 200-day simple moving average is $190.56.

Insider Activity at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the transaction, the chief financial officer now owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,230 shares of company stock valued at $6,379,187. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in SPS Commerce by 5.3% in the second quarter. Bank of Montreal Can now owns 11,402 shares of the software maker’s stock valued at $2,149,000 after acquiring an additional 572 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of SPS Commerce by 19.2% in the 2nd quarter. AQR Capital Management LLC now owns 14,856 shares of the software maker’s stock valued at $2,795,000 after purchasing an additional 2,391 shares during the last quarter. Millennium Management LLC grew its holdings in shares of SPS Commerce by 4.3% during the 2nd quarter. Millennium Management LLC now owns 97,036 shares of the software maker’s stock worth $18,258,000 after purchasing an additional 4,045 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of SPS Commerce by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,716 shares of the software maker’s stock worth $4,086,000 after purchasing an additional 934 shares during the period. Finally, Creative Planning increased its position in shares of SPS Commerce by 28.9% during the 2nd quarter. Creative Planning now owns 8,865 shares of the software maker’s stock worth $1,668,000 after purchasing an additional 1,987 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.