SPS Commerce (NASDAQ:SPSC) Reaches New 52-Week Low – Here’s What Happened

SPS Commerce, Inc. (NASDAQ:SPSC)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $130.43 and last traded at $132.11, with a volume of 2348 shares changing hands. The stock had previously closed at $132.00.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler reduced their target price on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Robert W. Baird dropped their price target on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Northland Securities restated a “market perform” rating and issued a $181.00 price target (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday, February 11th. Citigroup dropped their price target on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, Needham & Company LLC dropped their price target on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Trading Down 0.9 %

The business has a 50 day simple moving average of $172.96 and a 200-day simple moving average of $183.83. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 64.29 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. Research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 2,591 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.02, for a total transaction of $383,519.82. Following the transaction, the executive vice president now directly owns 1,367,584 shares of the company’s stock, valued at approximately $202,429,783.68. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Chadwick Collins sold 2,840 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total value of $420,660.80. Following the transaction, the chief executive officer now directly owns 5,270,106 shares in the company, valued at $780,608,100.72. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,695 shares of company stock valued at $7,781,086. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in SPS Commerce by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker’s stock worth $852,032,000 after purchasing an additional 67,687 shares during the last quarter. State Street Corp increased its holdings in shares of SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares during the last quarter. FMR LLC increased its holdings in shares of SPS Commerce by 109.7% in the 4th quarter. FMR LLC now owns 1,419,831 shares of the software maker’s stock valued at $261,235,000 after acquiring an additional 742,686 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of SPS Commerce by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker’s stock valued at $182,287,000 after acquiring an additional 14,174 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of SPS Commerce by 33.4% in the 4th quarter. Ameriprise Financial Inc. now owns 765,709 shares of the software maker’s stock valued at $140,882,000 after acquiring an additional 191,740 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

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.