Needham & Company LLC Reaffirms "Buy" Rating for SPS Commerce (NASDAQ:SPSC)

Needham & Company LLC restated their buy rating on shares of SPS Commerce (NASDAQ:SPSC - Free Report) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $210.00 target price on the software maker's stock.

A number of other research firms also recently weighed in on SPSC. Citigroup decreased 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. Northland Securities reissued a "market perform" rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price target on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their target price on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, SPS Commerce has an average rating of "Moderate Buy" and an average price target of $207.11.

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SPS Commerce Stock Down 2.0 %

SPS Commerce stock traded down $2.74 during trading hours on Wednesday, hitting $133.50. The stock had a trading volume of 272,430 shares, compared to its average volume of 220,890. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 65.44 and a beta of 0.92. The business's 50 day simple moving average is $152.14 and its 200-day simple moving average is $175.44. SPS Commerce has a one year low of $122.58 and a one year high of $218.61.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. 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 12.08% and a return on equity of 12.27%. Research analysts anticipate that SPS Commerce will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the transaction, the chief financial officer now directly owns 147,002 shares of the company's stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares of the company's stock, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,864 shares of company stock valued at $6,613,078. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of SPS Commerce by 14.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,510 shares of the software maker's stock worth $278,000 after buying an additional 193 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in SPS Commerce during the fourth quarter worth $303,000. Public Employees Retirement System of Ohio boosted its position in SPS Commerce by 22.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 14,774 shares of the software maker's stock worth $2,718,000 after purchasing an additional 2,714 shares during the last quarter. Palisades Investment Partners LLC grew its stake in SPS Commerce by 9.4% in the 4th quarter. Palisades Investment Partners LLC now owns 49,548 shares of the software maker's stock valued at $9,116,000 after purchasing an additional 4,244 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SPS Commerce by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,493 shares of the software maker's stock valued at $21,618,000 after purchasing an additional 15,194 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Company Profile

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.