SPS Commerce (NASDAQ:SPSC) Now Covered by Redburn Atlantic

Equities researchers at Redburn Atlantic began coverage on shares of SPS Commerce (NASDAQ:SPSC - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a "buy" rating and a $220.00 price target on the software maker's stock. Redburn Atlantic's price objective points to a potential upside of 12.45% from the company's current price.

SPSC has been the topic of a number of other reports. StockNews.com lowered SPS Commerce from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Robert W. Baird increased their price target on SPS Commerce from $172.00 to $178.00 and gave the stock a "neutral" rating in a report on Friday, April 26th. William Blair reissued a "market perform" rating on shares of SPS Commerce in a research note on Thursday, April 25th. Citigroup raised their target price on SPS Commerce from $213.00 to $222.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $205.00 price target on shares of SPS Commerce in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.25.

SPS Commerce Trading Up 1.6 %

SPSC traded up $3.04 during trading on Tuesday, reaching $195.64. 114,357 shares of the company's stock were exchanged, compared to its average volume of 179,488. The firm has a fifty day moving average price of $179.33 and a two-hundred day moving average price of $181.23. The stock has a market capitalization of $7.24 billion, a PE ratio of 106.91 and a beta of 0.81. SPS Commerce has a one year low of $151.63 and a one year high of $218.74.

Insider Buying and Selling at SPS Commerce

In other news, COO James J. Frome sold 2,901 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $183.32, for a total value of $531,811.32. Following the transaction, the chief operating officer now owns 54,029 shares in the company, valued at $9,904,596.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO James J. Frome sold 2,901 shares of the business's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $183.32, for a total transaction of $531,811.32. Following the transaction, the chief operating officer now directly owns 54,029 shares in the company, valued at $9,904,596.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 5,965 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the transaction, the chief financial officer now directly owns 147,553 shares in the company, valued at approximately $27,027,283.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,019 shares of company stock worth $5,186,345. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On SPS Commerce

A number of hedge funds and other institutional investors have recently made changes to their positions in SPSC. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of SPS Commerce during the 4th quarter worth approximately $26,000. NBC Securities Inc. bought a new position in shares of SPS Commerce during the 3rd quarter worth $35,000. RiverPark Advisors LLC bought a new stake in SPS Commerce in the 3rd quarter valued at about $42,000. CVA Family Office LLC bought a new position in SPS Commerce during the fourth quarter worth about $44,000. Finally, UMB Bank n.a. increased its stake in shares of SPS Commerce by 224.7% in the first quarter. UMB Bank n.a. now owns 237 shares of the software maker's stock worth $44,000 after purchasing an additional 164 shares in the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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.