Robert W. Baird Increases SPS Commerce (NASDAQ:SPSC) Price Target to $178.00

SPS Commerce (NASDAQ:SPSC - Free Report) had its price objective upped by Robert W. Baird from $172.00 to $178.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the software maker's stock.

Several other research firms have also weighed in on SPSC. Citigroup began coverage on SPS Commerce in a research note on Wednesday, March 13th. They issued a buy rating and a $216.00 price objective on the stock. Needham & Company LLC reissued a buy rating and set a $205.00 price target on shares of SPS Commerce in a research report on Friday. Finally, StockNews.com lowered SPS Commerce from a buy rating to a hold rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $196.57.

SPS Commerce Stock Performance

NASDAQ:SPSC traded up $9.53 during trading hours on Friday, hitting $178.96. The company's stock had a trading volume of 369,697 shares, compared to its average volume of 176,623. The business's 50-day moving average is $179.25 and its two-hundred day moving average is $179.04. The company has a market capitalization of $6.64 billion, a PE ratio of 101.68 and a beta of 0.79. SPS Commerce has a 52-week low of $140.00 and a 52-week high of $218.74.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analysts' expectations of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. As a group, analysts predict that SPS Commerce will post 2.13 EPS for the current fiscal year.

Insider Activity at SPS Commerce

In other news, CFO Kimberly K. Nelson sold 12,907 shares of SPS Commerce stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.41, for a total value of $2,315,644.87. Following the completion of the transaction, the chief financial officer now directly owns 157,251 shares of the company's stock, valued at approximately $28,212,401.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $197.03, for a total value of $474,448.24. Following the completion of the transaction, the director now owns 15,747 shares in the company, valued at approximately $3,102,631.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 12,907 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.41, for a total value of $2,315,644.87. Following the completion of the sale, the chief financial officer now directly owns 157,251 shares in the company, valued at approximately $28,212,401.91. The disclosure for this sale can be found here. Insiders have sold a total of 66,688 shares of company stock valued at $12,122,275 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SPS Commerce

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB grew its position in shares of SPS Commerce by 5.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 10,160 shares of the software maker's stock worth $1,733,000 after buying an additional 560 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new stake in shares of SPS Commerce during the third quarter valued at approximately $1,282,000. Cavalier Investments LLC boosted its position in shares of SPS Commerce by 3.6% during the third quarter. Cavalier Investments LLC now owns 9,052 shares of the software maker's stock valued at $1,544,000 after purchasing an additional 314 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in SPS Commerce by 18.0% in the third quarter. Commonwealth Equity Services LLC now owns 1,940 shares of the software maker's stock worth $331,000 after acquiring an additional 296 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in SPS Commerce by 102.7% in the third quarter. Dakota Wealth Management now owns 2,868 shares of the software maker's stock worth $489,000 after acquiring an additional 1,453 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.