SPS Commerce (NASDAQ:SPSC) Receives Buy Rating from Needham & Company LLC

SPS Commerce (NASDAQ:SPSC - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $230.00 price target on the software maker's stock. Needham & Company LLC's price target would suggest a potential upside of 23.09% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Robert W. Baird raised their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a "neutral" rating and a $198.00 price target on the stock. Finally, Stifel Nicolaus increased their target price on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $218.00.

SPS Commerce Trading Up 2.2 %

SPSC stock traded up $4.04 during trading hours on Friday, hitting $186.85. 193,221 shares of the stock traded hands, compared to its average volume of 163,111. The stock has a 50-day simple moving average of $186.00 and a 200 day simple moving average of $191.39. The company has a market cap of $7.02 billion, a P/E ratio of 89.40 and a beta of 0.88. SPS Commerce has a one year low of $160.58 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.09. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. Analysts forecast that SPS Commerce will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Chadwick Collins sold 6,839 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares in the company, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pathstone Holdings LLC boosted its holdings in SPS Commerce by 0.3% in the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock valued at $3,820,000 after acquiring an additional 54 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in SPS Commerce by 4.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock worth $256,000 after acquiring an additional 55 shares during the period. Coldstream Capital Management Inc. raised its position in shares of SPS Commerce by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock valued at $237,000 after acquiring an additional 58 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of SPS Commerce by 2.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker's stock valued at $449,000 after purchasing an additional 62 shares during the period. Finally, Signaturefd LLC grew its stake in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker's stock worth $65,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

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.