SPS Commerce (SPSC) Rating Lowered to Hold at BidaskClub

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.

SPS Commerce (NASDAQ:SPSC) last posted its earnings results on Tuesday, February 12th. The software maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.20. The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.90 million. SPS Commerce had a return on equity of 8.17% and a net margin of 9.62%. SPS Commerce’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Research analysts anticipate that SPS Commerce will post 1.47 earnings per share for the current year.

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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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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