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

Needham & Company LLC reiterated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $230.00 price objective on the software maker’s stock.

Several other equities research analysts have also issued reports on the stock. Citigroup boosted their price target on shares of SPS Commerce from $213.00 to $222.00 and gave the company a buy rating in a report on Friday, May 10th. Northland Capmk downgraded shares of SPS Commerce from a strong-buy rating to a hold rating in a research report on Monday, July 29th. Stifel Nicolaus upped their target price on shares of SPS Commerce from $200.00 to $225.00 and gave the company a buy rating in a research report on Friday, July 26th. William Blair restated a market perform rating on shares of SPS Commerce in a research report on Thursday, April 25th. Finally, DA Davidson increased their price target on shares of SPS Commerce from $225.00 to $240.00 and gave the company a buy rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, SPS Commerce currently has an average rating of Moderate Buy and an average target price of $220.25.

SPS Commerce Price Performance

NASDAQ SPSC opened at $191.23 on Friday. The company’s fifty day moving average price is $193.44 and its two-hundred day moving average price is $187.16. SPS Commerce has a 12 month low of $151.96 and a 12 month high of $218.74. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 104.50 and a beta of 0.85.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $153.60 million for the quarter, compared to the consensus estimate of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. SPS Commerce’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. As a group, analysts anticipate that SPS Commerce will post 2.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director James Burr Ramsey sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total value of $1,273,341.30. Following the completion of the transaction, the director now directly owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SPS Commerce news, Director James Burr Ramsey sold 6,567 shares of SPS Commerce stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $193.90, for a total transaction of $1,273,341.30. Following the completion of the transaction, the director now directly owns 14,728 shares of the company’s stock, valued at $2,855,759.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Philip Soran sold 3,285 shares of SPS Commerce stock in a transaction on Friday, July 12th. The stock was sold at an average price of $200.06, for a total value of $657,197.10. Following the sale, the director now directly owns 18,852 shares of the company’s stock, valued at approximately $3,771,531.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,242 shares of company stock worth $2,422,377. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. raised its stake in SPS Commerce by 800.0% during the second quarter. Mather Group LLC. now owns 144 shares of the software maker’s stock worth $27,000 after acquiring an additional 128 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of SPS Commerce during the second quarter worth about $30,000. UMB Bank n.a. boosted its holdings in SPS Commerce by 224.7% in the first quarter. UMB Bank n.a. now owns 237 shares of the software maker’s stock valued at $44,000 after acquiring an additional 164 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in SPS Commerce in the first quarter valued at approximately $60,000. Finally, DT Investment Partners LLC bought a new stake in SPS Commerce in the second quarter valued at approximately $63,000. Institutional investors and hedge funds own 98.96% of the company’s stock.

About SPS Commerce

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.