SPS Commerce, Inc. (NASDAQ:SPSC) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts have a consensus “Hold” rating on SPS Commerce: seven of ten covering firms rate it Hold, two Buy, and one Sell. Their average one-year price target is $79.33.
• SPS Commerce reported quarterly EPS of $1.39, above the $1.23 consensus estimate, while revenue of $197.65 million slightly exceeded expectations and rose 4.1% year over year.
• Two company insiders sold shares in November, while institutional investors hold approximately 98.96% of the stock.

Shares of SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) have received a consensus recommendation of "Hold" from the ten research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $79.33.

Several brokerages have weighed in on SPSC. Citigroup restated a "buy" rating and issued a $99.00 target price (up from $82.00) on shares of SPS Commerce in a research note on Tuesday, October 20th. Wall Street Zen raised SPS Commerce from a "hold" rating to a "buy" rating in a research report on Sunday, October 25th. Weiss Ratings raised SPS Commerce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 2nd. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price objective (up from $75.00) on shares of SPS Commerce in a report on Wednesday, August 19th. Finally, Zacks Research upgraded SPS Commerce from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th.

Insider Transactions at SPS Commerce

In other SPS Commerce news, EVP Jamie Thingelstad sold 11,196 shares of the company's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $81.59, for a total transaction of $913,481.64. Following the transaction, the executive vice president owned 95,777 shares in the company, valued at approximately $7,814,445.43. This represents a 10.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marty M. Reaume sold 4,536 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $86.86, for a total value of $393,996.96. Following the completion of the transaction, the director directly owned 12,894 shares in the company, valued at $1,119,972.84. This represents a 26.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company's stock.

Institutional Investors Weigh In On SPS Commerce

Hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of SPS Commerce by 2,835.9% in the 3rd quarter. State Street Corp now owns 45,380,765 shares of the software maker's stock valued at $3,741,190,000 after purchasing an additional 43,835,069 shares in the last quarter. BlackRock Inc. purchased a new position in shares of SPS Commerce during the 2nd quarter valued at approximately $339,259,000. First Trust Advisors LP lifted its position in shares of SPS Commerce by 35,941.7% during the 3rd quarter. First Trust Advisors LP now owns 2,957,940 shares of the software maker's stock valued at $243,853,000 after buying an additional 2,949,733 shares in the last quarter. Bank of America Corp DE grew its stake in SPS Commerce by 3.3% in the 1st quarter. Bank of America Corp DE now owns 998,622 shares of the software maker's stock valued at $55,593,000 after acquiring an additional 31,434 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in SPS Commerce in the 2nd quarter valued at $56,260,000. Hedge funds and other institutional investors own 98.96% of the company's stock.

SPS Commerce Trading Down 1.2%

Shares of NASDAQ:SPSC opened at $81.30 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of 36.13 and a beta of 0.66. SPS Commerce has a 12-month low of $49.04 and a 12-month high of $96.54. The business's fifty day simple moving average is $83.39 and its 200-day simple moving average is $67.99.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The software maker reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. SPS Commerce had a return on equity of 13.72% and a net margin of 10.65%. The firm had revenue of $197.65 million during the quarter, compared to analysts' expectations of $197.51 million. During the same period in the prior year, the business posted $1.13 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Research analysts predict that SPS Commerce will post 3.68 EPS for the current year.

SPS Commerce Company Profile

SPS Commerce provides cloud-based supply chain management software and services, with a focus on helping retailers, suppliers, distributors and logistics providers exchange business information and coordinate transactions. Its platform connects trading partners and supports electronic data interchange (EDI), order processing and fulfillment workflows. The company also offers tools for supply chain analytics and product information management, along with implementation and ongoing support services.

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