Piper Sandler Begins Coverage on SPS Commerce (NASDAQ:SPSC)

Equities researchers at Piper Sandler began coverage on shares of SPS Commerce (NASDAQ:SPSC - Get Free Report) in a research note issued on Monday, MarketBeat reports. The brokerage set a "neutral" rating and a $198.00 price target on the software maker's stock. Piper Sandler's price target points to a potential upside of 2.28% from the stock's current price.

A number of other research analysts have also weighed in on SPSC. Robert W. Baird lifted their target price on SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Northland Securities lowered shares of SPS Commerce from an "outperform" rating to a "market perform" rating and upped their target price for the stock from $205.00 to $209.00 in a report on Monday, July 29th. Northland Capmk downgraded shares of SPS Commerce from a "strong-buy" rating to a "hold" rating in a report on Monday, July 29th. Stifel Nicolaus boosted their price target on shares of SPS Commerce from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price objective on shares of SPS Commerce in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SPS Commerce currently has an average rating of "Moderate Buy" and an average price target of $220.78.

SPS Commerce Stock Performance

NASDAQ SPSC traded up $4.45 during trading on Monday, hitting $193.58. 158,753 shares of the company's stock traded hands, compared to its average volume of 185,939. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 93.24 and a beta of 0.84. The business has a 50 day moving average of $186.64 and a 200-day moving average of $191.26. SPS Commerce has a 12-month low of $160.58 and a 12-month high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released 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 net margin of 12.83% and a return on equity of 12.60%. The business had revenue of $163.69 million during the quarter, compared to analyst estimates of $160.30 million. During the same period in the previous year, the business earned $0.53 EPS. SPS Commerce's revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that SPS Commerce will post 2.39 EPS for the current year.

Insider Transactions at SPS Commerce

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total value of $1,160,509.91. Following the completion of the sale, the chief executive officer now owns 54,446 shares in the company, valued at approximately $9,238,941.74. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. increased its position in shares of SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker's stock valued at $27,000 after acquiring an additional 128 shares during the period. Opal Wealth Advisors LLC purchased a new stake in SPS Commerce in the 2nd quarter worth approximately $30,000. Blue Trust Inc. grew its position in shares of SPS Commerce by 140.8% in the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC purchased a new stake in SPS Commerce in the second quarter worth $63,000. 98.96% of the stock is owned by hedge funds and other 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.