Canaccord Genuity lowered shares of SPS Commerce, Inc. (NASDAQ:SPSC) from a buy rating to a hold rating in a research report report published on Wednesday. The firm currently has $65.00 target price on the stock, down from their previous target price of $82.00.
Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $70.00 price target (down from $83.00) on shares of SPS Commerce in a report on Wednesday, February 8th. Zacks Investment Research cut shares of SPS Commerce from a buy rating to a hold rating in a research report on Thursday, December 29th. Benchmark Co. initiated coverage on shares of SPS Commerce in a research report on Tuesday, December 6th. They set a buy rating and a $84.00 price objective on the stock. Finally, William Blair cut shares of SPS Commerce from an outperform rating to a market perform rating in a research report on Wednesday, February 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $76.57.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 56.32 on Wednesday. SPS Commerce has a 52 week low of $38.35 and a 52 week high of $74.85. The company has a market cap of $962.00 million, a P/E ratio of 170.67 and a beta of 1.27. The company’s 50-day moving average price is $68.27 and its 200 day moving average price is $67.96.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. SPS Commerce had a return on equity of 4.14% and a net margin of 2.95%. The firm earned $51.10 million during the quarter, compared to the consensus estimate of $50.91 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. On average, equities analysts forecast that SPS Commerce will post $0.86 EPS for the current fiscal year.
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In related news, COO James J. Frome sold 2,859 shares of the firm’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $66.97, for a total value of $191,467.23. Following the transaction, the chief operating officer now owns 18,111 shares of the company’s stock, valued at approximately $1,212,893.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Archie C. Black sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $69.27, for a total transaction of $1,039,050.00. Following the completion of the transaction, the chief executive officer now directly owns 82,215 shares in the company, valued at approximately $5,695,033.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,859 shares of company stock worth $2,251,717. 2.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP boosted its position in shares of SPS Commerce by 32.2% in the third quarter. Quantbot Technologies LP now owns 1,413 shares of the company’s stock valued at $103,000 after buying an additional 344 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock valued at $141,000 after buying an additional 285 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in shares of SPS Commerce during the third quarter valued at $215,000. Capstone Asset Management Co. acquired a new position in shares of SPS Commerce during the third quarter valued at $217,000. Finally, Bank of Montreal Can boosted its position in shares of SPS Commerce by 8.6% in the third quarter. Bank of Montreal Can now owns 3,239 shares of the company’s stock valued at $237,000 after buying an additional 257 shares during the last quarter.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.
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