SPS Commerce Inc. (NASDAQ:SPSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday. The firm presently has a $72.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 6.12% from the stock’s previous close.
According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “
Other research analysts have also issued research reports about the company. Needham & Company LLC lifted their target price on SPS Commerce from $70.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. Pacific Crest initiated coverage on SPS Commerce in a research report on Thursday, September 29th. They issued an “overweight” rating and a $85.00 target price for the company. Finally, First Analysis initiated coverage on SPS Commerce in a research report on Monday, September 26th. They issued an “overweight” rating and a $86.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. SPS Commerce has an average rating of “Buy” and a consensus price target of $78.00.
SPS Commerce (NASDAQ:SPSC) traded up 0.16% during midday trading on Wednesday, hitting $67.85. The stock had a trading volume of 26,840 shares. The firm has a market cap of $1.16 billion, a PE ratio of 193.86 and a beta of 1.14. The stock has a 50-day moving average price of $67.03 and a 200 day moving average price of $63.53. SPS Commerce has a one year low of $38.35 and a one year high of $75.47.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. SPS Commerce had a return on equity of 4.24% and a net margin of 3.27%. The firm earned $49.28 million during the quarter, compared to analyst estimates of $49.02 million. During the same quarter last year, the firm earned $0.22 EPS. SPS Commerce’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts predict that SPS Commerce will post $0.99 earnings per share for the current year.
In other SPS Commerce news, COO James J. Frome sold 15,968 shares of SPS Commerce stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $62.24, for a total transaction of $993,848.32. Following the sale, the chief operating officer now owns 32,493 shares of the company’s stock, valued at approximately $2,022,364.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. Smerklo sold 580 shares of SPS Commerce stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $67.40, for a total value of $39,092.00. Following the sale, the director now directly owns 760 shares in the company, valued at approximately $51,224. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SPSC. D.A. Davidson & CO. increased its stake in shares of SPS Commerce by 12.1% in the third quarter. D.A. Davidson & CO. now owns 2,533 shares of the company’s stock valued at $184,000 after buying an additional 273 shares during the last quarter. Credit Suisse AG increased its stake in shares of SPS Commerce by 7.0% in the third quarter. Credit Suisse AG now owns 22,233 shares of the company’s stock valued at $1,632,000 after buying an additional 1,459 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of SPS Commerce during the third quarter valued at $828,000. Morgan Stanley increased its stake in shares of SPS Commerce by 205.5% in the third quarter. Morgan Stanley now owns 60,704 shares of the company’s stock valued at $4,457,000 after buying an additional 40,832 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of SPS Commerce during the third quarter valued at $9,017,000.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers to place, manage and fulfill orders.