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

SPS Commerce, Inc. (NASDAQ:SPSC) shares gapped up prior to trading 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 changing hands.

Other analysts also recently issued reports about the company. StockNews.com downgraded SPS Commerce from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup started coverage on SPS Commerce in a research report on Wednesday, March 13th. They issued a “buy” rating and a $216.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of SPS Commerce in a report on Friday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.57.

Insider Activity at SPS Commerce

In other SPS Commerce news, CFO Kimberly K. Nelson sold 12,907 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $179.41, for a total value of $2,315,644.87. Following the sale, the chief financial officer now owns 157,251 shares in the company, valued at $28,212,401.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SPS Commerce news, COO James J. Frome sold 12,887 shares of SPS Commerce stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kimberly K. Nelson sold 12,907 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $179.41, for a total transaction of $2,315,644.87. Following the transaction, the chief financial officer now owns 157,251 shares in the company, valued at approximately $28,212,401.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,688 shares of company stock valued at $12,122,275. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. SYSTM Wealth Solutions LLC boosted its stake in shares of SPS Commerce by 3,785.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 1,593 shares of the software maker’s stock valued at $295,000 after acquiring an additional 1,552 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of SPS Commerce by 0.4% in the 1st quarter. WCM Investment Management LLC now owns 102,555 shares of the software maker’s stock worth $18,962,000 after buying an additional 448 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of SPS Commerce during the first quarter worth $2,198,000. AMI Asset Management Corp grew its stake in SPS Commerce by 19.7% in the first quarter. AMI Asset Management Corp now owns 18,641 shares of the software maker’s stock valued at $3,447,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Norden Group LLC lifted its position in shares of SPS Commerce by 2,034.7% during the 1st quarter. Norden Group LLC now owns 211,680 shares of the software maker’s stock worth $39,138,000 after purchasing an additional 201,764 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company’s stock.

SPS Commerce Trading Up 3.4 %

The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 99.52 and a beta of 0.79. The firm has a fifty day simple moving average of $179.25 and a 200 day simple moving average of $179.04.

SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $144.97 million during the quarter, compared to analysts’ expectations of $143.05 million. SPS Commerce had a return on equity of 12.18% and a net margin of 12.26%. On average, equities analysts expect that SPS Commerce, Inc. will post 2.13 earnings per share for the current 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.