SPS Commerce (NASDAQ:SPSC) had its price target reduced by Canaccord Genuity from $62.00 to $57.00 in a research note released on Wednesday, February 7th. They currently have a hold rating on the software maker’s stock.
Several other brokerages have also issued reports on SPSC. Stifel Nicolaus dropped their price target on SPS Commerce from $75.00 to $68.00 and set a buy rating for the company in a research note on Friday, October 27th. Oppenheimer lowered their target price on SPS Commerce from $74.00 to $62.00 and set an outperform rating for the company in a research note on Friday, October 27th. Benchmark reissued a sell rating on shares of SPS Commerce in a research note on Monday, October 30th. Zacks Investment Research raised SPS Commerce from a hold rating to a strong-buy rating and set a $56.00 target price for the company in a research note on Wednesday, November 1st. Finally, BidaskClub lowered SPS Commerce from a sell rating to a strong sell rating in a research note on Thursday, December 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $66.43.
Shares of SPS Commerce (NASDAQ SPSC) traded up $0.31 during midday trading on Wednesday, hitting $54.68. The stock had a trading volume of 148,100 shares, compared to its average volume of 137,125. The stock has a market capitalization of $931.20, a PE ratio of -390.57, a PEG ratio of 2.91 and a beta of 1.10. SPS Commerce has a one year low of $45.02 and a one year high of $64.85.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $58.20 million during the quarter, compared to analyst estimates of $57.47 million. SPS Commerce had a positive return on equity of 2.81% and a negative net margin of 1.11%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. equities analysts anticipate that SPS Commerce will post 0.87 EPS for the current fiscal year.
SPS Commerce declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in SPS Commerce by 1.8% during the 4th quarter. BlackRock Inc. now owns 2,120,517 shares of the software maker’s stock valued at $103,037,000 after purchasing an additional 37,925 shares during the period. Vanguard Group Inc. grew its holdings in shares of SPS Commerce by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after acquiring an additional 64,257 shares during the period. Ruane Cunniff & Goldfarb Inc. grew its holdings in shares of SPS Commerce by 50.3% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 765,318 shares of the software maker’s stock worth $43,401,000 after acquiring an additional 256,117 shares during the period. Janus Henderson Group PLC purchased a new position in shares of SPS Commerce during the 2nd quarter worth approximately $41,711,000. Finally, Banbury Partners LLC grew its holdings in shares of SPS Commerce by 5.9% during the 3rd quarter. Banbury Partners LLC now owns 511,882 shares of the software maker’s stock worth $29,029,000 after acquiring an additional 28,689 shares during the period. Institutional investors own 97.44% of the company’s stock.
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About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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