SPS Commerce (NASDAQ:SPSC) Shares Gap Up Following Analyst Upgrade

SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report)'s share price gapped up before the market opened on Friday after Robert W. Baird raised their price target on the stock from $172.00 to $178.00. The stock had previously closed at $169.43, but opened at $180.00. Robert W. Baird currently has a neutral rating on the stock. SPS Commerce shares last traded at $181.96, with a volume of 55,382 shares trading hands.

SPSC has been the subject of a number of other reports. Needham & Company LLC restated a "buy" rating and issued a $205.00 price objective on shares of SPS Commerce in a report on Friday. StockNews.com lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a report on Friday, March 15th. Finally, Citigroup began coverage on shares of SPS Commerce in a report on Wednesday, March 13th. They issued a "buy" rating and a $216.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $196.57.

Insider Buying and Selling

In related news, COO James J. Frome sold 12,887 shares of SPS Commerce stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total value of $2,310,252.49. Following the transaction, the chief operating officer now directly owns 44,369 shares of the company's stock, valued at $7,954,030.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SPS Commerce news, Director Archie C. Black sold 12,875 shares of the business's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the transaction, the director now directly owns 89,940 shares of the company's stock, valued at approximately $16,137,034.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO James J. Frome sold 12,887 shares of the business's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.27, for a total transaction of $2,310,252.49. Following the transaction, the chief operating officer now directly owns 44,369 shares in the company, valued at $7,954,030.63. 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 over the last three months. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new position in SPS Commerce during the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in shares of SPS Commerce in the 3rd quarter worth about $35,000. RiverPark Advisors LLC purchased a new stake in shares of SPS Commerce in the 3rd quarter worth about $42,000. CVA Family Office LLC purchased a new stake in shares of SPS Commerce in the 4th quarter worth about $44,000. Finally, UMB Bank n.a. grew its position in shares of SPS Commerce by 224.7% in the 1st quarter. UMB Bank n.a. now owns 237 shares of the software maker's stock worth $44,000 after buying an additional 164 shares during the period. 98.96% of the stock is owned by hedge funds and other institutional investors.

SPS Commerce Stock Performance

The stock's 50-day moving average price is $179.25 and its two-hundred day moving average price is $179.04. The stock has a market capitalization of $6.64 billion, a PE ratio of 101.68 and a beta of 0.79.

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

About SPS Commerce

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.