Piper Sandler Issues Pessimistic Forecast for SPS Commerce (NASDAQ:SPSC) Stock Price

SPS Commerce (NASDAQ:SPSC - Free Report) had its target price trimmed by Piper Sandler from $198.00 to $175.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the software maker's stock.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird cut their target price on SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday. Stifel Nicolaus dropped their price target on SPS Commerce from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Needham & Company LLC dropped their price target on SPS Commerce from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday. Northland Securities reiterated a "market perform" rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday. Finally, Citigroup dropped their price target on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $207.11.

SPS Commerce Trading Down 0.9 %

NASDAQ SPSC traded down $1.28 on Tuesday, hitting $147.22. 228,216 shares of the company's stock were exchanged, compared to its average volume of 261,897. The stock has a 50-day moving average of $186.73 and a 200-day moving average of $189.28. SPS Commerce has a 52 week low of $146.91 and a 52 week high of $218.61. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 70.45 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. As a group, analysts predict that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SPSC. Sanctuary Advisors LLC bought a new position in shares of SPS Commerce in the 2nd quarter worth about $517,000. Inspire Investing LLC raised its position in shares of SPS Commerce by 13.8% in the 3rd quarter. Inspire Investing LLC now owns 2,131 shares of the software maker's stock worth $414,000 after acquiring an additional 258 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of SPS Commerce by 63.1% in 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 position 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 worth $1,955,000 after acquiring an additional 1,204 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new position in shares of SPS Commerce in the 3rd quarter worth about $319,000. 98.96% of the stock is owned by 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.