Trade Report: The SPS Commerce Inc. (SPSC) Issues Earnings Results, Beats Expectations By $0.02 EPS

The SPS Commerce Inc. (SPSC) Issues  Earnings Results, Beats Expectations By $0.02 EPS

SPS Commerce Inc. (NASDAQ:SPSC) announced its earnings results on Thursday. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company earned $49.28 million during the quarter, compared to analyst estimates of $49.02 million. SPS Commerce had a net margin of 3.27% and a return on equity of 4.24%. SPS Commerce’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. SPS Commerce updated its Q4 guidance to $0.26-0.27 EPS.

Shares of SPS Commerce (NASDAQ:SPSC) opened at 62.87 on Monday. The company has a 50-day moving average of $70.19 and a 200 day moving average of $61.14. SPS Commerce has a one year low of $38.35 and a one year high of $76.37. The firm has a market cap of $1.07 billion, a PE ratio of 179.63 and a beta of 1.17.

In other news, Director Michael A. Smerklo sold 581 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $65.74, for a total transaction of $38,194.94. Following the completion of the transaction, the director now owns 1,340 shares of the company’s stock, valued at approximately $88,091.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael A. Smerklo sold 580 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $67.40, for a total transaction of $39,092.00. Following the transaction, the director now directly owns 760 shares of the company’s stock, valued at approximately $51,224. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Menta Capital LLC bought a new position in SPS Commerce during the second quarter worth approximately $212,000. AQR Capital Management LLC increased its position in SPS Commerce by 43.8% in the second quarter. AQR Capital Management LLC now owns 7,064 shares of the company’s stock worth $428,000 after buying an additional 2,151 shares in the last quarter. BlackRock Advisors LLC increased its position in SPS Commerce by 3.0% in the second quarter. BlackRock Advisors LLC now owns 8,046 shares of the company’s stock worth $488,000 after buying an additional 235 shares in the last quarter. Mackenzie Financial Corp increased its position in SPS Commerce by 2.3% in the second quarter. Mackenzie Financial Corp now owns 10,118 shares of the company’s stock worth $613,000 after buying an additional 227 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in SPS Commerce by 42.4% in the second quarter. Parametric Portfolio Associates LLC now owns 22,473 shares of the company’s stock worth $1,362,000 after buying an additional 6,690 shares in the last quarter.

Several research analysts have weighed in on the stock. First Analysis assumed coverage on shares of SPS Commerce in a research note on Monday, September 26th. They set an “overweight” rating and a $86.00 target price for the company. Pacific Crest began coverage on shares of SPS Commerce in a research note on Thursday, September 29th. They issued an “overweight” rating and a $85.00 price objective for the company. Needham & Company LLC raised their price objective on shares of SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Finally, Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $78.25.

About SPS Commerce

Related posts

Leave a Comment