Piper Sandler Begins Coverage on SPS Commerce (NASDAQ:SPSC)

Piper Sandler began coverage on shares of SPS Commerce (NASDAQ:SPSC) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued a neutral rating and a $198.00 price objective on the software maker’s stock.

A number of other research firms also recently issued reports on SPSC. Stifel Nicolaus lifted their target price on SPS Commerce from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird upped their price objective on SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of SPS Commerce in a report on Friday, October 25th. Northland Securities downgraded shares of 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 report on Monday, July 29th. Finally, Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SPS Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $220.78.

SPS Commerce Stock Down 0.4 %

NASDAQ:SPSC opened at $192.57 on Monday. The company has a market cap of $7.23 billion, a P/E ratio of 92.14 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 business has a 50 day moving average price of $186.66 and a two-hundred day moving average price of $191.27.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 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 business had revenue of $163.69 million during the quarter, compared to analysts’ expectations of $160.30 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, analysts anticipate that SPS Commerce will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPSC. Quadrature Capital Ltd acquired a new stake in shares of SPS Commerce in the first quarter valued at about $329,000. BOKF NA increased its position in SPS Commerce by 89.8% during the 1st quarter. BOKF NA now owns 1,682 shares of the software maker’s stock valued at $310,000 after purchasing an additional 796 shares during the period. Janus Henderson Group PLC raised its holdings in SPS Commerce by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 49,329 shares of the software maker’s stock worth $9,117,000 after purchasing an additional 813 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of SPS Commerce in the 1st quarter worth approximately $465,000. Finally, Moody National Bank Trust Division boosted its stake in shares of SPS Commerce by 4.8% in the 2nd quarter. Moody National Bank Trust Division now owns 14,255 shares of the software maker’s stock valued at $2,682,000 after purchasing an additional 650 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

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.