SPS Commerce (NASDAQ:SPSC) Price Target Raised to $178.00 at Robert W. Baird

SPS Commerce (NASDAQ:SPSC) had its price target lifted by Robert W. Baird from $172.00 to $178.00 in a research note released on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the software maker’s stock.

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

SPS Commerce Stock Performance

Shares of NASDAQ SPSC opened at $182.47 on Friday. The company has a 50 day simple moving average of $178.76 and a two-hundred day simple moving average of $179.30. SPS Commerce has a fifty-two week low of $145.17 and a fifty-two week high of $218.74. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 99.71 and a beta of 0.79.

SPS Commerce (NASDAQ:SPSC) last released its earnings results 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 return on equity of 12.06% and a net margin of 12.23%. The business had revenue of $144.97 million for the quarter, compared to the consensus estimate of $143.05 million. On average, analysts forecast that SPS Commerce will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at SPS Commerce

In other news, Director Archie C. Black sold 12,875 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the sale, the director now directly owns 89,940 shares in the company, valued at approximately $16,137,034.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO James J. Frome sold 12,887 shares of SPS Commerce stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 44,369 shares of the company’s stock, valued at approximately $7,954,030.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Archie C. Black sold 12,875 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $179.42, for a total transaction of $2,310,032.50. Following the completion of the sale, the director now directly owns 89,940 shares in the company, valued at $16,137,034.80. The disclosure for this sale can be found here. Insiders sold 66,688 shares of company stock worth $12,122,275 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new stake in SPS Commerce during the 4th quarter valued at about $26,000. NBC Securities Inc. purchased a new position in SPS Commerce during the 3rd quarter worth $35,000. CVA Family Office LLC bought a new stake in SPS Commerce during the 4th quarter valued at $44,000. UMB Bank n.a. lifted its holdings 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 worth $44,000 after buying an additional 164 shares during the period. Finally, RiverPark Advisors LLC purchased a new position in shares of SPS Commerce during the third quarter valued at $42,000. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Company Profile

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.