SPS Commerce (NASDAQ:SPSC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $106.00 price target for the company in a research note on Thursday, November 1st. TheStreet raised SPS Commerce from a “c+” rating to a “b-” rating in a research note on Friday, October 26th. ValuEngine raised SPS Commerce from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 27th. Oppenheimer increased their price target on SPS Commerce from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, October 26th. Finally, Canaccord Genuity increased their price target on SPS Commerce from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. SPS Commerce currently has an average rating of “Buy” and an average price target of $90.56.

Shares of SPSC stock opened at $87.95 on Tuesday. The stock has a market capitalization of $1.59 billion, a PE ratio of 209.40, a P/E/G ratio of 3.46 and a beta of 0.78. SPS Commerce has a 1-year low of $46.64 and a 1-year high of $100.68.

In related news, Director Martin J. Leestma sold 8,316 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $95.74, for a total transaction of $796,173.84. Following the completion of the sale, the director now owns 12,619 shares of the company’s stock, valued at $1,208,143.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Archie C. Black sold 1,997 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $95.08, for a total value of $189,874.76. Following the sale, the chief executive officer now directly owns 92,321 shares of the company’s stock, valued at approximately $8,777,880.68. The disclosure for this sale can be found here. Insiders have sold 47,561 shares of company stock valued at $4,581,581 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in SPS Commerce during the third quarter worth approximately $114,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in SPS Commerce in the third quarter worth approximately $119,000. First Quadrant L P CA bought a new position in SPS Commerce in the third quarter worth approximately $151,000. NumerixS Investment Technologies Inc bought a new position in SPS Commerce in the second quarter worth approximately $156,000. Finally, Macquarie Group Ltd. boosted its holdings in SPS Commerce by 223.7% in the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock worth $188,000 after acquiring an additional 1,772 shares in the last quarter. 98.09% of the stock is owned by institutional investors and hedge funds.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.

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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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