SPS Commerce, Inc. (NASDAQ:SPSC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “
A number of other research firms have also commented on SPSC. Benchmark Co. started coverage on SPS Commerce in a report on Tuesday, December 6th. They issued a “buy” rating and a $84.00 price target for the company. JMP Securities cut their price target on SPS Commerce from $78.00 to $74.00 and set an “outperform” rating for the company in a report on Wednesday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target (down from $83.00) on shares of SPS Commerce in a report on Wednesday, February 8th. William Blair lowered SPS Commerce from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 8th. Finally, Canaccord Genuity lowered SPS Commerce from a “buy” rating to a “hold” rating and dropped their price objective for the company from $82.00 to $65.00 in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. SPS Commerce has an average rating of “Buy” and an average price target of $76.57.
SPS Commerce (NASDAQ:SPSC) opened at 56.32 on Tuesday. The company has a 50-day moving average price of $68.27 and a 200 day moving average price of $67.96. SPS Commerce has a 12 month low of $38.35 and a 12 month high of $74.85. The company has a market capitalization of $962.00 million, a PE ratio of 170.67 and a beta of 1.27.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $0.29 EPS 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 analyst estimates of $50.91 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts forecast that SPS Commerce will post $0.86 EPS for the current fiscal year.
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In related news, CEO Archie C. Black sold 15,000 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $69.27, for a total transaction of $1,039,050.00. Following the transaction, the chief executive officer now owns 82,215 shares in the company, valued at approximately $5,695,033.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James J. Frome sold 2,859 shares of the business’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 in the company, valued at approximately $1,212,893.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,859 shares of company stock worth $2,251,717. 2.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS increased its position in shares of SPS Commerce by 4.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 391,590 shares of the company’s stock worth $23,730,000 after buying an additional 15,535 shares in the last quarter. Riverbridge Partners LLC increased its position in shares of SPS Commerce by 5.5% in the second quarter. Riverbridge Partners LLC now owns 814,643 shares of the company’s stock worth $49,367,000 after buying an additional 42,687 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of SPS Commerce by 0.6% in the second quarter. Nationwide Fund Advisors now owns 10,874 shares of the company’s stock worth $659,000 after buying an additional 65 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of SPS Commerce by 21.1% in the second quarter. UBS Asset Management Americas Inc. now owns 6,900 shares of the company’s stock worth $418,000 after buying an additional 1,200 shares in the last quarter. Finally, Teacher Retirement System of Texas increased 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 worth $141,000 after buying an additional 285 shares in the last quarter.
About SPS Commerce
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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