Robert W. Baird Lowers SPS Commerce (NASDAQ:SPSC) Price Target to $175.00

SPS Commerce (NASDAQ:SPSC) had its price target cut by research analysts at Robert W. Baird from $188.00 to $175.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Robert W. Baird’s price objective would indicate a potential upside of 14.42% from the stock’s current price.

A number of other equities analysts also recently issued reports on SPSC. Northland Securities reiterated a “market perform” rating and set a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Stifel Nicolaus cut their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup cut their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC cut their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Piper Sandler assumed coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Stock Performance

SPSC stock opened at $152.94 on Tuesday. The company has a market capitalization of $5.75 billion, a P/E ratio of 73.18 and a beta of 0.88. SPS Commerce has a 52-week low of $147.27 and a 52-week high of $218.61. The business has a 50-day simple moving average of $186.73 and a two-hundred day simple moving average of $189.28.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. As a group, sell-side analysts forecast that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total transaction of $1,715,677.20. Following the sale, the chief financial officer now owns 156,292 shares of the company’s stock, valued at $28,864,006.56. The trade was a 5.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now owns 22,570 shares in the company, valued at approximately $4,167,776.20. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,230 shares of company stock valued at $6,379,187. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Several institutional investors have recently made changes to their positions in the stock. Pathstone Holdings LLC lifted its position in shares of 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 acquiring an additional 54 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 worth $256,000 after acquiring an additional 55 shares in the last quarter. Coldstream Capital Management Inc. lifted its position 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 worth $237,000 after acquiring an additional 58 shares in the last quarter. Amalgamated Bank lifted its position 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 worth $2,025,000 after acquiring an additional 61 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position 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 worth $449,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other 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.