Investment analysts at First Analysis began coverage on shares of SPS Commerce Inc. (NASDAQ:SPSC) in a report released on Monday, The Fly reports. The brokerage set an “overweight” rating on the stock.
Several other research firms have also recently weighed in on SPSC. Needham & Company LLC raised their price target on SPS Commerce from $70.00 to $83.00 and gave the company a “buy” rating in a report on Monday. Zacks Investment Research raised SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $75.83.
Shares of SPS Commerce (NASDAQ:SPSC) traded up 0.18% during trading on Monday, reaching $72.84. The company’s stock had a trading volume of 194,641 shares. The stock’s 50 day moving average price is $67.03 and its 200-day moving average price is $56.06. SPS Commerce has a 52-week low of $38.35 and a 52-week high of $78.29. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 260.14 and a beta of 1.23.
SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The firm had revenue of $474 million for the quarter, compared to analysts’ expectations of $47.06 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Equities analysts anticipate that SPS Commerce will post $0.98 EPS for the current year.
In related news, Director Michael A. Smerklo sold 581 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $65.74, for a total transaction of $38,194.94. Following the transaction, the director now directly owns 1,340 shares of the company’s stock, valued at approximately $88,091.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Archie C. Black sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $63.38, for a total value of $633,800.00. Following the transaction, the chief executive officer now directly owns 78,600 shares in the company, valued at $4,981,668. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in SPSC. Nuveen Asset Management LLC bought a new position in SPS Commerce during the first quarter valued at about $1,122,000. Granahan Investment Management Inc. MA raised its position in SPS Commerce by 17.7% in the first quarter. Granahan Investment Management Inc. MA now owns 886,935 shares of the company’s stock valued at $38,085,000 after buying an additional 133,406 shares during the last quarter. HBK Investments L P bought a new position in SPS Commerce during the first quarter valued at about $273,000. Bogle Investment Management L P DE bought a new position in SPS Commerce during the first quarter valued at about $4,369,000. Finally, Geode Capital Management LLC raised its position in SPS Commerce by 6.5% in the first quarter. Geode Capital Management LLC now owns 116,557 shares of the company’s stock valued at $5,004,000 after buying an additional 7,082 shares during the last quarter.
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.
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