SPS Commerce, Inc. (NASDAQ:SPSC) Given Consensus Recommendation of “Buy” by Brokerages
SPS Commerce, Inc. (NASDAQ:SPSC) has earned an average rating of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $59.83.
Several brokerages have commented on SPSC. Oppenheimer lowered their target price on shares of SPS Commerce from $120.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Wednesday, July 31st. ValuEngine downgraded shares of SPS Commerce from a “hold” rating to a “sell” rating in a research note on Friday, August 23rd. Canaccord Genuity lowered their target price on shares of SPS Commerce to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Finally, BidaskClub downgraded shares of SPS Commerce from a “sell” rating to a “strong sell” rating in a research note on Tuesday.
Shares of SPSC stock traded up $0.18 during trading hours on Thursday, reaching $48.60. 13,440 shares of the company were exchanged, compared to its average volume of 294,726. SPS Commerce has a fifty-two week low of $37.92 and a fifty-two week high of $59.14. The stock’s fifty day moving average is $83.90 and its two-hundred day moving average is $99.45. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 79.67, a P/E/G ratio of 3.49 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.67 and a quick ratio of 4.67.
In other news, Director Philip Soran sold 2,060 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $109.55, for a total value of $225,673.00. Following the completion of the transaction, the director now owns 9,968 shares in the company, valued at $1,091,994.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Archie C. Black sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $112.61, for a total transaction of $2,815,250.00. Following the completion of the transaction, the chief executive officer now owns 68,344 shares of the company’s stock, valued at approximately $7,696,217.84. The disclosure for this sale can be found here. Insiders sold 50,044 shares of company stock valued at $5,633,505 in the last quarter. Corporate insiders own 3.34% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of SPS Commerce in the second quarter valued at approximately $31,000. Advisor Group Inc. boosted its holdings in SPS Commerce by 28.3% during the second quarter. Advisor Group Inc. now owns 857 shares of the software maker’s stock worth $87,000 after purchasing an additional 189 shares during the last quarter. Penserra Capital Management LLC acquired a new position in SPS Commerce during the first quarter worth $90,000. C M Bidwell & Associates Ltd. lifted its stake in SPS Commerce by 155.2% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,110 shares of the software maker’s stock valued at $113,000 after acquiring an additional 675 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in SPS Commerce in the second quarter valued at $115,000. Institutional investors own 49.33% of the company’s stock.
SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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