SPS Commerce (NASDAQ:SPSC) Price Target Increased to $240.00 by Analysts at DA Davidson

SPS Commerce (NASDAQ:SPSC) had its target price upped by analysts at DA Davidson from $225.00 to $240.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective would suggest a potential upside of 13.33% from the stock’s previous close.

Other analysts have also issued reports about the company. Needham & Company LLC boosted their target price on SPS Commerce from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Friday. Citigroup boosted their price objective on shares of SPS Commerce from $213.00 to $222.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Redburn Atlantic began coverage on shares of SPS Commerce in a research note on Tuesday, May 14th. They set a “buy” rating and a $220.00 target price for the company. William Blair reissued a “market perform” rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, Robert W. Baird upped their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.50.

SPS Commerce Price Performance

NASDAQ SPSC traded up $6.15 during mid-day trading on Friday, reaching $211.77. 45,959 shares of the stock were exchanged, compared to its average volume of 179,819. The stock has a market cap of $7.84 billion, a P/E ratio of 114.87 and a beta of 0.85. The stock has a 50 day simple moving average of $191.89 and a 200-day simple moving average of $185.90. SPS Commerce has a one year low of $151.96 and a one year high of $218.74.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, April 25th. The software maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. The company had revenue of $149.58 million for the quarter, compared to analysts’ expectations of $146.50 million. Sell-side analysts anticipate that SPS Commerce will post 2.23 EPS for the current fiscal year.

Insider Transactions at SPS Commerce

In other news, Director James Burr Ramsey sold 6,567 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total value of $1,273,341.30. Following the sale, the director now directly owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the sale, the director now directly owns 14,728 shares of the company’s stock, valued at approximately $2,855,759.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Soran sold 3,285 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $200.06, for a total transaction of $657,197.10. Following the sale, the director now owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,242 shares of company stock valued at $2,422,377. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Several hedge funds have recently made changes to their positions in SPSC. Vanguard Group Inc. boosted its position in SPS Commerce by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,347,206 shares of the software maker’s stock worth $803,798,000 after purchasing an additional 58,525 shares during the period. Congress Asset Management Co. MA boosted its stake in SPS Commerce by 1.5% during the 1st quarter. Congress Asset Management Co. MA now owns 843,310 shares of the software maker’s stock valued at $155,928,000 after acquiring an additional 12,397 shares during the last quarter. William Blair Investment Management LLC grew its holdings in SPS Commerce by 2.9% during the 1st quarter. William Blair Investment Management LLC now owns 597,662 shares of the software maker’s stock worth $110,508,000 after acquiring an additional 17,012 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SPS Commerce by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 492,802 shares of the software maker’s stock worth $95,527,000 after purchasing an additional 7,179 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SPS Commerce by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 431,703 shares of the software maker’s stock valued at $83,681,000 after purchasing an additional 12,091 shares in the last quarter. Institutional investors and hedge funds 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.