Other equities research analysts have also issued research reports about the stock. Benchmark Co. started coverage on shares of SPS Commerce in a report on Tuesday, December 6th. They set a buy rating and a $84.00 price objective on the stock. Needham & Company LLC reissued a buy rating and set a $70.00 price objective (down previously from $83.00) on shares of SPS Commerce in a report on Wednesday. Zacks Investment Research lowered shares of SPS Commerce from a buy rating to a hold rating in a report on Thursday, December 29th. Finally, William Blair lowered shares of SPS Commerce from an outperform rating to a market perform rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $76.57.
Canaccord Genuity cut shares of SPS Commerce, Inc. (NASDAQ:SPSC) from a buy rating to a hold rating in a research note issued to investors on Wednesday. Canaccord Genuity currently has $65.00 price objective on the stock, down from their prior price objective of $82.00.
SPS Commerce (NASDAQ:SPSC) traded up 3.46% on Wednesday, hitting $55.67. 401,714 shares of the stock traded hands. The stock has a market capitalization of $950.90 million, a P/E ratio of 168.70 and a beta of 1.27. SPS Commerce has a 12-month low of $38.35 and a 12-month high of $74.85. The company’s 50 day moving average price is $69.54 and its 200-day moving average price is $68.04.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. SPS Commerce had a net margin of 2.95% and a return on equity of 4.19%. The firm had revenue of $51.10 million for the quarter, compared to analyst estimates of $50.91 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Analysts predict that SPS Commerce will post $1.14 EPS for the current year.
In related news, CEO Archie C. Black sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $68.08, for a total value of $1,021,200.00. Following the sale, the chief executive officer now directly owns 78,229 shares in the company, valued at approximately $5,325,830.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James J. Frome sold 2,859 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $66.97, for a total transaction of $191,467.23. Following the completion of the sale, the chief operating officer now owns 18,111 shares in the company, valued at $1,212,893.67. The disclosure for this sale can be found here. Insiders sold a total of 32,859 shares of company stock worth $2,251,717 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP increased its stake in shares of SPS Commerce by 32.2% in the third quarter. Quantbot Technologies LP now owns 1,413 shares of the company’s stock worth $103,000 after buying an additional 344 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock worth $141,000 after buying an additional 285 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of SPS Commerce during the third quarter worth $215,000. Capstone Asset Management Co. purchased a new stake in shares of SPS Commerce during the third quarter worth $217,000. Finally, Bank of Montreal Can increased its stake in shares of SPS Commerce by 8.6% in the third quarter. Bank of Montreal Can now owns 3,239 shares of the company’s stock worth $237,000 after buying an additional 257 shares in the last quarter.
About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.