SPS Commerce (NASDAQ:SPSC) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, April 1st, BidAskClub reports.
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded SPS Commerce from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Oppenheimer upped their price target on SPS Commerce from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. upped their price target on SPS Commerce from $95.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Finally, Canaccord Genuity upped their price target on SPS Commerce from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $101.91.
SPS Commerce stock traded up $0.60 during mid-day trading on Monday, reaching $102.25. 158,593 shares of the company were exchanged, compared to its average volume of 151,204. The firm has a market cap of $1.76 billion, a P/E ratio of 83.81, a P/E/G ratio of 4.59 and a beta of 0.81. SPS Commerce has a 12-month low of $64.11 and a 12-month high of $113.31.
In other SPS Commerce news, Director Sven Wehrwein sold 2,672 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $108.74, for a total transaction of $290,553.28. Following the sale, the director now directly owns 8,415 shares of the company’s stock, valued at approximately $915,047.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Archie C. Black sold 1,705 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $104.09, for a total value of $177,473.45. Following the sale, the chief executive officer now directly owns 90,007 shares in the company, valued at $9,368,828.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,984 shares of company stock worth $3,752,731. 3.34% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Enlightenment Research LLC purchased a new stake in shares of SPS Commerce during the 4th quarter worth about $25,000. Quantamental Technologies LLC purchased a new stake in shares of SPS Commerce during the 4th quarter worth about $33,000. JNBA Financial Advisors purchased a new stake in shares of SPS Commerce during the 4th quarter worth about $41,000. Public Employees Retirement System of Ohio purchased a new stake in shares of SPS Commerce during the 4th quarter worth about $55,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of SPS Commerce by 378.9% during the 1st quarter. Meeder Asset Management Inc. now owns 704 shares of the software maker’s stock worth $75,000 after acquiring an additional 557 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.
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