SPS Commerce (NASDAQ:SPSC) Sets New 52-Week Low After Earnings Miss

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) shares reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $156.11 and last traded at $150.08, with a volume of 59796 shares changing hands. The stock had previously closed at $177.17.

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 12.83% and a return on equity of 12.60%.

Wall Street Analysts Forecast Growth

SPSC has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday. Robert W. Baird cut their price target on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday. Northland Securities restated a "market perform" rating and set a $181.00 price target (down from $209.00) on shares of SPS Commerce in a report on Tuesday. Citigroup dropped their target price on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, SPS Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $207.11.

Insider Activity

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 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. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the transaction, the executive vice president now directly owns 22,570 shares of the company's stock, valued at $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock worth $6,379,187 over the last quarter. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pathstone Holdings LLC boosted its stake in SPS Commerce by 0.3% during the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock worth $3,820,000 after buying an additional 54 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of SPS Commerce by 4.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock valued at $256,000 after purchasing an additional 55 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of SPS Commerce by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock valued at $237,000 after purchasing an additional 58 shares during the period. Amalgamated Bank boosted its stake in shares of SPS Commerce by 0.6% during the fourth quarter. Amalgamated Bank now owns 11,005 shares of the software maker's stock valued at $2,025,000 after purchasing an additional 61 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of SPS Commerce by 2.8% during the third 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. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 0.9 %

The stock has a market capitalization of $5.53 billion, a PE ratio of 70.45 and a beta of 0.88. The stock's 50 day moving average price is $186.73 and its 200-day moving average price is $189.28.

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.