SPS Commerce (NASDAQ:SPSC) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of SPS Commerce (NASDAQ:SPSC) in a report issued on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $198.00 price objective on the software maker’s stock.

A number of other equities analysts also recently weighed in on the company. Northland Securities downgraded SPS Commerce from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $205.00 to $209.00 in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on SPS Commerce from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird raised their target price on SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Northland Capmk cut SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of SPS Commerce in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $220.78.

SPS Commerce Stock Down 0.4 %

SPSC stock opened at $192.57 on Monday. The firm has a market capitalization of $7.23 billion, a PE ratio of 92.50 and a beta of 0.84. SPS Commerce has a twelve month low of $160.58 and a twelve month high of $218.74. The stock’s 50 day moving average is $186.67 and its 200-day moving average is $191.26.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $160.30 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that SPS Commerce will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chadwick Collins sold 6,839 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total value of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares in the company, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

A number of institutional investors have recently made changes to their positions in SPSC. Mather Group LLC. increased its stake in SPS Commerce by 800.0% in the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of SPS Commerce during the 2nd quarter valued at about $30,000. Blue Trust Inc. raised its holdings in shares of SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC bought a new stake in SPS Commerce in the 2nd quarter worth approximately $63,000. Institutional investors 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.