SPS Commerce (NASDAQ:SPSC) Earns "Buy" Rating from Needham & Company LLC

SPS Commerce (NASDAQ:SPSC - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They currently have a $205.00 price target on the software maker's stock. Needham & Company LLC's price target indicates a potential upside of 14.55% from the stock's previous close.

A number of other research analysts have also weighed in on the stock. StockNews.com lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a research note on Friday, March 15th. Citigroup started coverage on SPS Commerce in a research report on Wednesday, March 13th. They set a "buy" rating and a $216.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $196.57.

SPS Commerce Stock Performance

Shares of SPS Commerce stock traded up $9.53 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 company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 101.68 and a beta of 0.79. SPS Commerce has a 1 year low of $140.00 and a 1 year high of $218.74. The firm has a fifty day moving average price of $179.25 and a 200-day moving average price of $179.04.

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

Insider Activity

In other SPS Commerce news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the completion of the sale, the director now directly owns 15,747 shares in the company, valued at $3,102,631.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Sven Wehrwein sold 2,408 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 15th. The shares were 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 $3,102,631.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James J. Frome sold 2,825 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $187.47, for a total value of $529,602.75. Following the transaction, the chief operating officer now directly owns 56,930 shares of the company's stock, valued at $10,672,667.10. The disclosure for this sale can be found here. Insiders sold a total of 66,688 shares of company stock valued at $12,122,275 in the last 90 days. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On SPS Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPSC. McGlone Suttner Wealth Management Inc. acquired a new stake in SPS Commerce in the 4th quarter valued at about $26,000. NBC Securities Inc. purchased a new position in shares of SPS Commerce during the 3rd quarter worth about $35,000. CVA Family Office LLC acquired a new stake in shares of SPS Commerce during the 4th quarter worth $44,000. UMB Bank n.a. lifted its stake 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 valued at $44,000 after purchasing an additional 164 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in SPS Commerce during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 98.96% of the company's stock.

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.