SPS Commerce Inc. (SPSC) Sees Unusually-High Trading Volume
SPS Commerce Inc. (NASDAQ:SPSC) shares saw strong trading volume on Friday . 88,201 shares were traded during mid-day trading, a decline of 24% from the previous session’s volume of 115,992 shares.The stock last traded at $60.88 and had previously closed at $60.10.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Canaccord Genuity reaffirmed a “buy” rating on shares of SPS Commerce in a research note on Saturday, April 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective (down previously from $86.00) on shares of SPS Commerce in a research note on Saturday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $71.43.
The company’s 50 day moving average is $57.02 and its 200 day moving average is $52.38. The stock has a market cap of $1.04 billion and a P/E ratio of 205.20.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, April 21st. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business earned $45.60 million during the quarter, compared to the consensus estimate of $44.87 million. During the same quarter last year, the company posted $0.17 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts expect that SPS Commerce Inc. will post $0.94 earnings per share for the current fiscal year.
In related news, CEO Archie C. Black sold 10,000 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $51.63, for a total value of $516,300.00. Following the sale, the chief executive officer now owns 78,600 shares in the company, valued at approximately $4,058,118. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of large investors have bought and sold shares of SPSC. Brown Advisory Inc. boosted its stake in SPS Commerce by 2.5% in the fourth quarter. Brown Advisory Inc. now owns 123,307 shares of the company’s stock worth $8,657,000 after buying an additional 2,969 shares during the period. EAM Investors LLC boosted its stake in SPS Commerce by 27.9% in the fourth quarter. EAM Investors LLC now owns 59,652 shares of the company’s stock worth $4,188,000 after buying an additional 13,024 shares during the period. Eagle Asset Management Inc. boosted its stake in SPS Commerce by 0.7% in the fourth quarter. Eagle Asset Management Inc. now owns 55,052 shares of the company’s stock worth $3,865,000 after buying an additional 401 shares during the period. Azimuth Capital Management LLC boosted its stake in SPS Commerce by 7.3% in the fourth quarter. Azimuth Capital Management LLC now owns 44,365 shares of the company’s stock worth $3,115,000 after buying an additional 3,030 shares during the period. Finally, Sei Investments Co. boosted its stake in SPS Commerce by 15.3% in the fourth quarter. Sei Investments Co. now owns 37,165 shares of the company’s stock worth $2,610,000 after buying an additional 4,919 shares during the period.
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 place, manage and fulfill orders.
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