Citigroup Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $233.00

SPS Commerce (NASDAQ:SPSC) had its price objective dropped by analysts at Citigroup from $237.00 to $233.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Citigroup’s price target would indicate a potential upside of 21.73% from the company’s current price.

SPSC has been the subject of several other research reports. Piper Sandler assumed coverage on shares of SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price for the company. Stifel Nicolaus cut their price target on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Robert W. Baird increased their price target on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $219.22.

SPS Commerce Stock Down 0.1 %

SPSC stock opened at $191.40 on Monday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 91.92 and a beta of 0.88. SPS Commerce has a 52 week low of $160.58 and a 52 week high of $218.74. The firm has a 50-day simple moving average of $189.19 and a 200-day simple moving average of $191.49.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share 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 for the quarter, compared to the consensus estimate of $160.30 million. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that SPS Commerce will post 2.38 earnings per share for the current 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 on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now owns 54,446 shares of the company’s stock, valued at approximately $9,238,941.74. This represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 23,833 shares of the company’s stock, valued at $4,773,988.23. The trade was a 19.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of SPS Commerce

Large investors have recently made changes to their positions in the company. E. Ohman J or Asset Management AB boosted its stake in SPS Commerce by 3.0% in the 4th quarter. E. Ohman J or Asset Management AB now owns 12,810 shares of the software maker’s stock worth $2,357,000 after purchasing an additional 368 shares during the period. Alliance Wealth Advisors LLC UT boosted its stake in shares of SPS Commerce by 3.1% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 9,179 shares of the software maker’s stock worth $1,689,000 after buying an additional 275 shares during the last quarter. R Squared Ltd acquired a new position in shares of SPS Commerce during the 4th quarter worth about $57,000. KBC Group NV boosted its stake in shares of SPS Commerce by 41.9% during the 4th quarter. KBC Group NV now owns 1,527 shares of the software maker’s stock worth $281,000 after buying an additional 451 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of SPS Commerce by 109.9% during the 4th quarter. Blue Trust Inc. now owns 359 shares of the software maker’s stock worth $70,000 after buying an additional 188 shares during the last quarter. Institutional investors own 98.96% of the company’s stock.

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.