SPS Commerce (NASDAQ:SPSC) Sees Strong Trading Volume Following Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC) saw strong trading volume on Friday after Stifel Nicolaus raised their price target on the stock from $240.00 to $250.00. Stifel Nicolaus currently has a buy rating on the stock. 241,871 shares traded hands during trading, an increase of 36% from the previous session’s volume of 177,740 shares.The stock last traded at $175.21 and had previously closed at $190.98.

A number of other equities research analysts have also recently weighed in on SPSC. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of SPS Commerce in a report on Friday. Robert W. Baird lifted their price target on SPS Commerce from $178.00 to $186.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. DA Davidson increased their price objective on shares of SPS Commerce from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Northland Capmk cut shares of SPS Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Northland Securities lowered shares of SPS Commerce from an “outperform” rating to a “market perform” rating and increased their price target for the company from $205.00 to $209.00 in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.38.

Insider Transactions at SPS Commerce

In other news, Director Sven Wehrwein sold 2,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $201.35, for a total transaction of $402,700.00. Following the completion of the sale, the director now owns 16,212 shares in the company, valued at approximately $3,264,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On SPS Commerce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mather Group LLC. lifted its position in shares of 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 purchasing an additional 128 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of SPS Commerce during the second quarter worth about $30,000. Blue Trust Inc. lifted its stake in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in SPS Commerce in the first quarter valued at about $60,000. Finally, DT Investment Partners LLC acquired a new stake in SPS Commerce during the 2nd quarter valued at approximately $63,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.

SPS Commerce Stock Performance

The firm has a fifty day simple moving average of $193.22 and a 200-day simple moving average of $190.55. The company has a market capitalization of $6.50 billion, a PE ratio of 91.26 and a beta of 0.82.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, July 25th. The software maker reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $153.60 million during the quarter, compared to analyst estimates of $151.87 million. SPS Commerce had a net margin of 12.31% and a return on equity of 12.41%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, research analysts anticipate that SPS Commerce, Inc. will post 2.32 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.