SPS Commerce (NASDAQ:SPSC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $128.00 price objective on the software maker’s stock.

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. “

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity boosted their target price on shares of SPS Commerce from $115.00 to $120.00 and gave the company a buy rating in a research report on Friday, July 26th. First Analysis upgraded shares of SPS Commerce from a neutral rating to an outperform rating in a research report on Friday, April 26th. Northland Securities restated a buy rating and issued a $125.00 target price on shares of SPS Commerce in a research report on Friday, April 26th. JMP Securities boosted their target price on shares of SPS Commerce from $98.00 to $120.00 and gave the company a market outperform rating in a research report on Friday, April 26th. Finally, BidaskClub cut shares of SPS Commerce from a buy rating to a hold rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. SPS Commerce has an average rating of Buy and an average price target of $116.30.

SPS Commerce stock traded down $0.95 during midday trading on Wednesday, hitting $110.30. The company’s stock had a trading volume of 117,204 shares, compared to its average volume of 114,277. The company has a 50-day simple moving average of $104.96. The company has a market capitalization of $1.94 billion, a P/E ratio of 90.41, a price-to-earnings-growth ratio of 4.26 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.82 and a current ratio of 4.67. SPS Commerce has a 1-year low of $75.83 and a 1-year high of $118.28.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, July 25th. The software maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.40 by $0.20. The company had revenue of $68.53 million during the quarter, compared to analysts’ expectations of $68.13 million. SPS Commerce had a net margin of 11.69% and a return on equity of 9.10%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. As a group, equities research analysts forecast that SPS Commerce will post 1.74 earnings per share for the current fiscal year.

In related news, CEO Archie C. Black sold 2,365 shares of SPS Commerce stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $109.27, for a total transaction of $258,423.55. Following the sale, the chief executive officer now directly owns 76,079 shares of the company’s stock, valued at approximately $8,313,152.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Archie C. Black sold 2,635 shares of SPS Commerce stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $109.00, for a total transaction of $287,215.00. Following the sale, the chief executive officer now directly owns 73,344 shares in the company, valued at $7,994,496. The disclosure for this sale can be found here. Insiders have sold a total of 55,653 shares of company stock worth $6,235,321 over the last ninety days. 3.34% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC grew its holdings in shares of SPS Commerce by 21.4% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 658,236 shares of the software maker’s stock valued at $67,278,000 after purchasing an additional 115,821 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its holdings in shares of SPS Commerce by 3.2% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 419,986 shares of the software maker’s stock valued at $42,927,000 after purchasing an additional 13,016 shares during the last quarter. Portsea Asset Management LLP grew its holdings in shares of SPS Commerce by 32.5% during the 1st quarter. Portsea Asset Management LLP now owns 410,481 shares of the software maker’s stock valued at $43,536,000 after purchasing an additional 100,785 shares during the last quarter. Federated Investors Inc. PA grew its holdings in shares of SPS Commerce by 4.3% during the 1st quarter. Federated Investors Inc. PA now owns 230,166 shares of the software maker’s stock valued at $24,411,000 after purchasing an additional 9,479 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of SPS Commerce by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 199,801 shares of the software maker’s stock valued at $16,459,000 after purchasing an additional 13,738 shares during the last quarter. 95.54% 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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