SPS Commerce (NASDAQ:SPSC) Shares Gap Up Following Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC)’s share price gapped up prior to trading on Friday after Robert W. Baird raised their price target on the stock from $172.00 to $178.00. The stock had previously closed at $169.43, but opened at $180.00. Robert W. Baird currently has a neutral rating on the stock. SPS Commerce shares last traded at $181.96, with a volume of 55,382 shares trading hands.

Other analysts have also recently issued research reports about the company. Citigroup started coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 price target for the company. StockNews.com downgraded shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $205.00 price target on shares of SPS Commerce in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $196.57.

Insider Buying and Selling

In other news, Director Sven Wehrwein sold 2,408 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares of the company’s stock, valued at approximately $3,102,631.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Archie C. Black sold 12,875 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the transaction, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,688 shares of company stock worth $12,122,275. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in SPS Commerce by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,250,549 shares of the software maker’s stock worth $725,186,000 after buying an additional 33,874 shares during the period. Raymond James & Associates lifted its position in SPS Commerce by 5.3% during the 4th quarter. Raymond James & Associates now owns 109,125 shares of the software maker’s stock valued at $21,153,000 after purchasing an additional 5,456 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in SPS Commerce by 102.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 29,799 shares of the software maker’s stock worth $5,776,000 after purchasing an additional 15,110 shares in the last quarter. Northern Trust Corp grew its stake in shares of SPS Commerce by 1.0% in the third quarter. Northern Trust Corp now owns 491,062 shares of the software maker’s stock valued at $83,780,000 after buying an additional 4,764 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in SPS Commerce by 28.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 195,276 shares of the software maker’s stock valued at $33,316,000 after purchasing an additional 43,191 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Stock Up 3.4 %

The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 99.52 and a beta of 0.79. The stock has a 50 day moving average of $179.25 and a 200 day moving average of $179.04.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. The company had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. As a group, analysts predict that SPS Commerce, Inc. will post 2.13 EPS for the current fiscal year.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.