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 report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $210.00 price target on the software maker's stock.

SPSC has been the subject of several other research reports. DA Davidson decreased their price target on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird cut their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Northland Securities reiterated a "market perform" rating and issued a $181.00 price target (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Citigroup reduced their price objective on SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $198.11.

SPS Commerce Stock Performance

NASDAQ SPSC traded up $0.22 during trading on Friday, hitting $142.22. The stock had a trading volume of 122,548 shares, compared to its average volume of 237,826. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 69.72 and a beta of 0.89. SPS Commerce has a one year low of $120.09 and a one year high of $218.61. The stock has a 50 day simple moving average of $131.74 and a 200 day simple moving average of $165.41.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. The business had revenue of $181.55 million during the quarter, compared to the consensus estimate of $179.57 million. SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. On average, sell-side analysts predict that SPS Commerce will post 2.73 EPS for the current year.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of the company's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the sale, the executive vice president now directly owns 22,570 shares in the company, valued at $4,167,776.20. This represents a 30.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares of the company's stock, valued at approximately $28,864,006.56. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,864 shares of company stock worth $6,613,078 in the last three months. 0.98% of the stock is owned by corporate insiders.

Institutional Trading of SPS Commerce

Several large investors have recently added to or reduced their stakes in SPSC. MassMutual Private Wealth & Trust FSB grew its holdings in shares of SPS Commerce by 126.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 224 shares of the software maker's stock worth $30,000 after purchasing an additional 125 shares during the period. SBI Securities Co. Ltd. purchased a new position in SPS Commerce during the fourth quarter worth about $40,000. Hurley Capital LLC purchased a new position in SPS Commerce during the fourth quarter worth about $41,000. Blue Trust Inc. boosted its stake in SPS Commerce by 49.1% during the fourth quarter. Blue Trust Inc. now owns 255 shares of the software maker's stock worth $47,000 after buying an additional 84 shares during the period. Finally, Versant Capital Management Inc boosted its stake in SPS Commerce by 4,155.6% during the first quarter. Versant Capital Management Inc now owns 383 shares of the software maker's stock worth $51,000 after buying an additional 374 shares during the period. 98.96% of the stock is currently 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.