SPS Commerce (NASDAQ:SPSC) Sets New 52-Week Low After Earnings Miss

Shares of SPS Commerce, Inc. (NASDAQ:SPSC) hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $156.11 and last traded at $150.08, with a volume of 59796 shares trading hands. The stock had previously closed at $177.17.

The software maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SPSC shares. Needham & Company LLC lowered their target price on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup cut their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Robert W. Baird cut their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus decreased 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. Finally, Northland Securities reissued a “market perform” rating and set a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SPS Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.89.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 5,831 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,230 shares of company stock valued at $6,379,187. 1.00% of the stock is owned by company insiders.

Institutional Trading of SPS Commerce

Several institutional investors and hedge funds have recently modified their holdings of SPSC. Sanctuary Advisors LLC bought a new position in shares of SPS Commerce during the 2nd quarter worth $517,000. Inspire Investing LLC lifted its stake in SPS Commerce by 13.8% in the third quarter. Inspire Investing LLC now owns 2,131 shares of the software maker’s stock worth $414,000 after acquiring an additional 258 shares during the period. Exchange Traded Concepts LLC grew its holdings in SPS Commerce by 63.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 659 shares of the software maker’s stock worth $128,000 after acquiring an additional 255 shares in the last quarter. Creative Planning raised its holdings in shares of SPS Commerce by 13.6% in the 3rd quarter. Creative Planning now owns 10,069 shares of the software maker’s stock valued at $1,955,000 after purchasing an additional 1,204 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in SPS Commerce during the 3rd quarter valued at $319,000. Institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Down 13.8 %

The company’s 50 day simple moving average is $188.36 and its two-hundred day simple moving average is $189.93. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 72.79 and a beta of 0.88.

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.