SPS Commerce (NASDAQ:SPSC) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report report published on Friday, Benzinga reports. They currently have a $205.00 price target on the software maker’s stock.

A number of other equities research analysts also recently commented on SPSC. Citigroup initiated coverage on SPS Commerce in a report on Wednesday, March 13th. They set a buy rating and a $216.00 target price for the company. StockNews.com downgraded SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $196.57.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $178.96 on Friday. SPS Commerce has a fifty-two week low of $140.00 and a fifty-two week high of $218.74. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 97.79 and a beta of 0.79. The stock’s 50-day simple moving average is $178.97 and its 200-day simple moving average is $179.08.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a return on equity of 12.31% and a net margin of 12.23%. The business had revenue of $144.97 million for the quarter, compared to analyst estimates of $143.05 million. As a group, equities analysts forecast that SPS Commerce will post 2.13 earnings per share for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the transaction, the chief operating officer now directly owns 44,369 shares of the company’s stock, valued at $7,954,030.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the transaction, the chief operating officer now directly owns 44,369 shares of the company’s stock, valued at $7,954,030.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James J. Frome sold 2,901 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total value of $531,811.32. Following the completion of the transaction, the chief operating officer now directly owns 54,029 shares of the company’s stock, valued at $9,904,596.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,688 shares of company stock valued at $12,122,275. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new position in shares of SPS Commerce during the 4th quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in shares of SPS Commerce during the 3rd quarter worth approximately $35,000. RiverPark Advisors LLC acquired a new position in shares of SPS Commerce during the 3rd quarter worth approximately $42,000. CVA Family Office LLC acquired a new position in shares of SPS Commerce during the 4th quarter worth approximately $44,000. Finally, UMB Bank n.a. raised its stake in shares of SPS Commerce by 224.7% during the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after buying an additional 164 shares during the period. 98.96% of the stock is owned by institutional investors and hedge funds.

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.