SPS Commerce (NASDAQ:SPSC) Price Target Lowered to $210.00 at Needham & Company LLC

SPS Commerce (NASDAQ:SPSC) had its target price decreased by Needham & Company LLC from $230.00 to $210.00 in a report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.

A number of other analysts have also commented on SPSC. Piper Sandler initiated coverage on SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 price objective for the company. Stifel Nicolaus decreased their price target on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Northland Securities restated a “market perform” rating and set a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a research note on Tuesday. Citigroup cut their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Robert W. Baird increased their target price 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.11.

SPS Commerce Stock Down 13.8 %

Shares of SPSC opened at $152.72 on Tuesday. The business’s fifty day moving average is $187.58 and its 200 day moving average is $189.54. SPS Commerce has a 12-month low of $148.00 and a 12-month high of $218.61. The stock has a market cap of $5.74 billion, a P/E ratio of 73.07 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 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%. On average, analysts expect that SPS Commerce will post 2.38 EPS for the current year.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 9,819 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the completion of the transaction, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at $26,620,592.18. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,230 shares of company stock worth $6,379,187. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in SPS Commerce by 140.8% during the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock valued at $34,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce during the 4th quarter valued at approximately $40,000. R Squared Ltd bought a new position in SPS Commerce in the 4th quarter worth approximately $57,000. Finally, Arcadia Investment Management Corp MI purchased a new position in SPS Commerce in the 4th quarter valued at approximately $57,000. Hedge funds and other 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.