SPS Commerce (NASDAQ:SPSC) Reaches New 1-Year Low – What’s Next?

SPS Commerce, Inc. (NASDAQ:SPSC)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $124.09 and last traded at $124.88, with a volume of 10627 shares changing hands. The stock had previously closed at $128.22.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird reduced their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Northland Securities restated a “market perform” rating and set a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a report on Tuesday, February 11th. Citigroup dropped their target price 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, Stifel Nicolaus dropped their target price on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Six 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Trading Up 0.5 %

The company has a market cap of $4.78 billion, a P/E ratio of 62.02 and a beta of 0.92. The stock’s 50 day moving average is $167.25 and its 200-day moving average is $181.53.

SPS Commerce (NASDAQ:SPSC) last announced 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 return on equity of 12.27% and a net margin of 12.08%. As a group, sell-side analysts forecast that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Insider Buying and Selling

In other SPS Commerce news, CEO Chadwick Collins sold 2,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.12, for a total transaction of $420,660.80. Following the transaction, the chief executive officer now owns 5,270,106 shares in the company, valued at approximately $780,608,100.72. This represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock worth $7,781,086 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

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