Stifel Nicolaus Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $225.00

SPS Commerce (NASDAQ:SPSC) had its target price lowered by Stifel Nicolaus from $250.00 to $225.00 in a report released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software maker’s stock.

Several other research firms also recently commented on SPSC. Robert W. Baird lifted their price objective on shares of SPS Commerce from $186.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Piper Sandler began coverage on shares of SPS Commerce in a report on Monday, November 25th. They set a “neutral” rating and a $198.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of SPS Commerce in a report on Friday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

SPS Commerce Stock Performance

NASDAQ SPSC opened at $186.85 on Friday. The firm’s 50 day moving average price is $186.00 and its 200-day moving average price is $191.45. SPS Commerce has a 52-week low of $160.58 and a 52-week high of $218.74. The company has a market cap of $7.02 billion, a PE ratio of 89.40 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 24th. The software maker reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $163.69 million during the quarter, compared to the consensus estimate of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. SPS Commerce’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, analysts forecast that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Dan Juckniess sold 5,831 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the sale, the executive vice president now directly owns 23,833 shares of the company’s stock, valued at approximately $4,773,988.23. The trade was a 19.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chadwick Collins sold 6,839 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the completion of the sale, the chief executive officer now directly owns 54,446 shares in the company, valued at $9,238,941.74. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. increased its stake in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after buying an additional 100 shares during the period. Signaturefd LLC increased its position in shares of SPS Commerce by 26.0% in the 3rd quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock valued at $65,000 after purchasing an additional 69 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of SPS Commerce by 1,358.3% in the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock valued at $68,000 after purchasing an additional 326 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of SPS Commerce by 63.0% in the 3rd quarter. Huntington National Bank now owns 445 shares of the software maker’s stock valued at $86,000 after purchasing an additional 172 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.