SPS Commerce (NASDAQ:SPSC) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note published on Friday, Benzinga reports. The brokerage currently has a $205.00 price objective on the software maker’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Citigroup started coverage on SPS Commerce in a report on Wednesday, March 13th. They set a buy rating and a $216.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $196.57.

SPS Commerce Stock Up 2.0 %

SPSC opened at $182.47 on Friday. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 99.71 and a beta of 0.79. The firm has a 50-day moving average price of $178.76 and a 200-day moving average price of $179.30. SPS Commerce has a twelve month low of $145.17 and a twelve month high of $218.74.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. SPS Commerce had a return on equity of 12.06% and a net margin of 12.23%. The firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. On average, sell-side analysts expect that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SPS Commerce news, COO James J. Frome sold 12,887 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the completion of the transaction, the chief operating officer now owns 44,369 shares of the company’s stock, valued at $7,954,030.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Archie C. Black sold 12,875 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now owns 89,940 shares of the company’s stock, valued at $16,137,034.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James J. Frome sold 12,887 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total value of $2,310,252.49. Following the completion of the transaction, the chief operating officer now directly owns 44,369 shares in the company, valued at $7,954,030.63. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock worth $12,122,275 in the last three months. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of SPSC. McGlone Suttner Wealth Management Inc. bought a new position in SPS Commerce during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in shares of SPS Commerce during the 3rd quarter valued at $35,000. CVA Family Office LLC purchased a new position in shares of SPS Commerce in the 4th quarter worth $44,000. UMB Bank n.a. grew its holdings in shares of SPS Commerce by 224.7% in the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock worth $44,000 after acquiring an additional 164 shares during the period. Finally, RiverPark Advisors LLC purchased a new stake in SPS Commerce during the third quarter valued at $42,000. Institutional investors own 98.96% of the company’s stock.

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.