SPS Commerce (NASDAQ:SPSC) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of SPS Commerce (NASDAQ:SPSC - Free Report) in a research report released on Wednesday,Benzinga reports. The brokerage currently has a $230.00 target price on the software maker's stock.

Several other research firms also recently weighed in on SPSC. Robert W. Baird raised their price objective on SPS Commerce from $186.00 to $188.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. 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 report on Friday, January 3rd. Finally, Piper Sandler assumed coverage on SPS Commerce in a research note on Monday, November 25th. They set a "neutral" rating and a $198.00 price target for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and an average target price of $218.00.

SPS Commerce Price Performance

Shares of NASDAQ SPSC traded up $5.10 during trading on Wednesday, hitting $187.42. 187,935 shares of the company were exchanged, compared to its average volume of 193,237. SPS Commerce has a 1 year low of $160.58 and a 1 year high of $218.74. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 89.67 and a beta of 0.88. The firm's fifty day moving average price is $187.83 and its 200 day moving average price is $191.34.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 EPS for the quarter, topping 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 firm had revenue of $163.69 million for the quarter, compared to the consensus estimate of $160.30 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. On average, research analysts forecast that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 6,839 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the sale, the chief executive officer now directly owns 54,446 shares of the company's stock, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dan Juckniess sold 5,831 shares of the business's 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 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 position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Pathstone Holdings LLC grew its position in shares of SPS Commerce by 0.3% in the third quarter. Pathstone Holdings LLC now owns 19,675 shares of the software maker's stock valued at $3,820,000 after purchasing an additional 54 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in SPS Commerce by 4.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,317 shares of the software maker's stock worth $256,000 after buying an additional 55 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in SPS Commerce by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,224 shares of the software maker's stock valued at $237,000 after buying an additional 58 shares during the period. First Trust Direct Indexing L.P. increased its stake in shares of SPS Commerce by 2.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,312 shares of the software maker's stock valued at $449,000 after acquiring an additional 62 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of SPS Commerce by 26.0% during the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker's stock valued at $65,000 after acquiring an additional 69 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.