SPS Commerce (NASDAQ:SPSC) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of SPS Commerce (NASDAQ:SPSC) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $205.00 target price on the software maker’s stock.

A number of other brokerages have also recently issued reports on SPSC. StockNews.com cut shares of SPS Commerce from a buy rating to a hold rating in a research note on Friday, March 15th. Citigroup began coverage on shares of SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $196.57.

SPS Commerce Price Performance

SPSC opened at $178.96 on Friday. SPS Commerce has a one year low of $140.00 and a one year high of $218.74. The company’s 50 day simple moving average is $178.97 and its 200-day simple moving average is $179.08. The stock has a market capitalization of $6.64 billion, a P/E ratio of 97.79 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.31%. The business had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $143.05 million. As a group, analysts anticipate that SPS Commerce will post 2.13 EPS for the current year.

Insiders Place Their Bets

In other SPS Commerce news, CFO Kimberly K. Nelson sold 5,965 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the sale, the chief financial officer now directly owns 147,553 shares in the company, valued at $27,027,283.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SPS Commerce news, CFO Kimberly K. Nelson sold 5,965 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the sale, the chief financial officer now directly owns 147,553 shares in the company, valued at $27,027,283.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kimberly K. Nelson sold 12,907 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the completion of the sale, the chief financial officer now owns 157,251 shares in the company, valued at $28,212,401.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,688 shares of company stock worth $12,122,275. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of SPS Commerce by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,250,549 shares of the software maker’s stock worth $725,186,000 after acquiring an additional 33,874 shares during the period. Raymond James & Associates increased its stake in SPS Commerce by 5.3% in the 4th quarter. Raymond James & Associates now owns 109,125 shares of the software maker’s stock valued at $21,153,000 after buying an additional 5,456 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in SPS Commerce by 102.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 29,799 shares of the software maker’s stock valued at $5,776,000 after buying an additional 15,110 shares during the last quarter. Northern Trust Corp increased its stake in SPS Commerce by 1.0% in the 3rd quarter. Northern Trust Corp now owns 491,062 shares of the software maker’s stock valued at $83,780,000 after buying an additional 4,764 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in SPS Commerce by 28.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 195,276 shares of the software maker’s stock valued at $33,316,000 after buying an additional 43,191 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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.