Needham & Company LLC Reiterates Buy Rating for SPS Commerce (NASDAQ:SPSC)

Needham & Company LLC reaffirmed their buy rating on shares of SPS Commerce (NASDAQ:SPSC - Free Report) in a research note published on Friday morning, Benzinga reports. The firm currently has a $205.00 price objective on the software maker's stock.

Several other research firms have also issued reports on SPSC. StockNews.com lowered shares of SPS Commerce from a buy rating to a hold rating in a report on Friday, March 15th. Robert W. Baird boosted their price objective on shares of SPS Commerce from $172.00 to $178.00 and gave the stock a neutral rating in a report on Friday, April 26th. William Blair restated a market perform rating on shares of SPS Commerce in a report on Thursday, April 25th. 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. Three 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 currently has a consensus rating of Moderate Buy and an average price target of $197.43.

SPS Commerce Price Performance

SPSC traded down $1.07 on Friday, hitting $192.45. The company had a trading volume of 164,396 shares, compared to its average volume of 224,353. SPS Commerce has a 52-week low of $151.63 and a 52-week high of $218.74. The stock has a fifty day simple moving average of $178.91 and a 200-day simple moving average of $180.34. The firm has a market capitalization of $7.13 billion, a P/E ratio of 105.16 and a beta of 0.81.

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, topping the consensus estimate of $0.50 by $0.07. SPS Commerce had a net margin of 12.23% and a return on equity of 12.06%. The business had revenue of $144.97 million during the quarter, compared to analyst estimates of $143.05 million. Equities research analysts expect that SPS Commerce will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SPS Commerce news, CFO Kimberly K. Nelson sold 5,965 shares of SPS Commerce stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total value of $1,092,609.05. Following the completion of the sale, the chief financial officer now owns 147,553 shares of the company's stock, valued at approximately $27,027,283.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kimberly K. Nelson sold 5,965 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $183.17, for a total transaction of $1,092,609.05. Following the completion of the sale, the chief financial officer now owns 147,553 shares of the company's stock, valued at approximately $27,027,283.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sven Wehrwein sold 2,408 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $197.03, for a total transaction of $474,448.24. Following the sale, the director now directly owns 15,747 shares of the company's stock, valued at approximately $3,102,631.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,019 shares of company stock valued at $5,186,345. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in SPS Commerce by 10.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 589 shares of the software maker's stock valued at $114,000 after acquiring an additional 56 shares during the period. Arkadios Wealth Advisors lifted its holdings in SPS Commerce by 1.7% in the 4th quarter. Arkadios Wealth Advisors now owns 3,789 shares of the software maker's stock worth $734,000 after purchasing an additional 64 shares in the last quarter. Wealth Alliance boosted its stake in SPS Commerce by 4.4% in the 4th quarter. Wealth Alliance now owns 1,674 shares of the software maker's stock worth $324,000 after purchasing an additional 71 shares during the period. Parkside Financial Bank & Trust grew its holdings in SPS Commerce by 8.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,051 shares of the software maker's stock valued at $179,000 after buying an additional 79 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of SPS Commerce by 0.3% during the third quarter. Stifel Financial Corp now owns 29,603 shares of the software maker's stock valued at $5,051,000 after buying an additional 80 shares during the last quarter. Institutional investors 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.