Piper Sandler Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $175.00

SPS Commerce (NASDAQ:SPSC) had its target price cut by Piper Sandler from $198.00 to $175.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the software maker’s stock.

Several other analysts also recently weighed in on SPSC. Northland Securities reiterated a “market perform” rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research report on Tuesday. Stifel Nicolaus decreased their target price on SPS Commerce from $250.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Citigroup decreased their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating for the company in a report on Monday, January 27th. Needham & Company LLC decreased their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Robert W. Baird decreased their target price on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, SPS Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $148.50 on Tuesday. SPS Commerce has a fifty-two week low of $147.27 and a fifty-two week high of $218.61. The stock has a 50 day moving average price of $186.73 and a two-hundred day moving average price of $189.28. The company has a market capitalization of $5.58 billion, a P/E ratio of 71.05 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. As a group, equities analysts predict that SPS Commerce will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Dan Juckniess sold 9,819 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,230 shares of company stock valued at $6,379,187 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

A number of institutional investors have recently modified their holdings of SPSC. Blue Trust Inc. grew 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 during the last quarter. Advisors Asset Management Inc. grew its stake in shares of SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SPS Commerce in the fourth quarter worth $40,000. Hurley Capital LLC purchased a new stake in shares of SPS Commerce in the fourth quarter worth $41,000. Finally, R Squared Ltd purchased a new stake in shares of SPS Commerce in the fourth quarter worth $57,000. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.