SPS Commerce Inc. (SPSC) Sees Large Volume Increase
SPS Commerce Inc. (NASDAQ:SPSC) saw unusually-high trading volume on Friday . Approximately 88,201 shares traded hands 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.
SPSC has been the subject of several research reports. Zacks Investment Research lowered shares of SPS Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Canaccord Genuity reiterated a “buy” rating on shares of SPS Commerce in a research report on Saturday, April 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price (down from $86.00) on shares of SPS Commerce in a research report on Saturday, March 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. SPS Commerce has a consensus rating of “Buy” and an average target price of $71.43.
The firm has a market capitalization of $1.04 billion and a price-to-earnings ratio of 205.20. The firm has a 50 day moving average of $57.02 and a 200-day moving average of $52.38.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, April 21st. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm had revenue of $45.60 million for the quarter, compared to the consensus estimate of $44.87 million. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts anticipate that SPS Commerce Inc. will post $0.94 EPS for the current fiscal year.
In other news, CEO Archie C. Black sold 10,000 shares of the firm’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $51.63, for a total transaction of $516,300.00. Following the sale, the chief executive officer now directly owns 78,600 shares in the company, valued at approximately $4,058,118. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in shares of SPS Commerce by 7.2% in the fourth quarter. Rhumbline Advisers now owns 17,054 shares of the company’s stock valued at $1,197,000 after buying an additional 1,140 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of SPS Commerce by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 30,586 shares of the company’s stock valued at $2,147,000 after buying an additional 400 shares during the last quarter. Sei Investments Co. increased its stake in shares of SPS Commerce by 15.3% in the fourth quarter. Sei Investments Co. now owns 37,165 shares of the company’s stock valued at $2,610,000 after buying an additional 4,919 shares during the last quarter. Azimuth Capital Management LLC increased its stake in shares of SPS Commerce by 7.3% in the fourth quarter. Azimuth Capital Management LLC now owns 44,365 shares of the company’s stock valued at $3,115,000 after buying an additional 3,030 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in shares of SPS Commerce by 0.7% in the fourth quarter. Eagle Asset Management Inc. now owns 55,052 shares of the company’s stock valued at $3,865,000 after buying an additional 401 shares during the last quarter.
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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