SPS Commerce (NASDAQ:SPSC) Reaches New 1-Year Low - Here's Why

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $124.09 and last traded at $124.88, with a volume of 10627 shares. The stock had previously closed at $128.22.

Analysts Set New Price Targets

A number of research analysts have recently commented on SPSC shares. Citigroup lowered their target price on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Stifel Nicolaus dropped their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC decreased 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 report on Tuesday, February 11th. Piper Sandler dropped their price target on SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Robert W. Baird decreased their price objective on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $207.11.

SPS Commerce Price Performance

The firm has a market capitalization of $4.65 billion, a PE ratio of 60.32 and a beta of 0.92. The stock's 50-day moving average price is $164.95 and its 200 day moving average price is $180.65.

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SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 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%. Equities research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction that occurred on 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 owns 23,833 shares of the company's stock, valued at $4,773,988.23. This represents a 19.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chadwick Collins sold 2,840 shares of SPS Commerce stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,695 shares of company stock valued at $7,781,086 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of SPS Commerce

Institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. purchased a new stake in shares of SPS Commerce during the fourth quarter worth about $303,000. Public Employees Retirement System of Ohio grew its position in SPS Commerce by 22.5% during the 4th 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 increased its stake in SPS Commerce by 9.4% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SPS Commerce by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,493 shares of the software maker's stock worth $21,618,000 after buying an additional 15,194 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of SPS Commerce by 18.2% during the fourth quarter. Voloridge Investment Management LLC now owns 72,313 shares of the software maker's stock worth $13,305,000 after buying an additional 11,138 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.