Canaccord Genuity restated their hold rating on shares of SPS Commerce (NASDAQ:SPSC) in a research note released on Friday morning. The firm currently has a $57.00 price target on the software maker’s stock.
A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded SPS Commerce from a buy rating to a hold rating in a report on Thursday, December 28th. BidaskClub upgraded SPS Commerce from a sell rating to a hold rating in a report on Wednesday, February 7th. ValuEngine downgraded SPS Commerce from a hold rating to a sell rating in a report on Sunday, December 31st. Finally, Oppenheimer restated a buy rating and issued a $62.00 price objective on shares of SPS Commerce in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. SPS Commerce currently has an average rating of Hold and a consensus price target of $66.43.
Shares of NASDAQ:SPSC opened at $65.13 on Friday. The firm has a market cap of $1,114.37, a PE ratio of 155.07, a P/E/G ratio of 3.49 and a beta of 0.79. SPS Commerce has a 52-week low of $45.02 and a 52-week high of $67.18.
SPS Commerce (NASDAQ:SPSC) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. The business had revenue of $58.20 million during the quarter, compared to the consensus estimate of $57.47 million. SPS Commerce had a positive return on equity of 2.81% and a negative net margin of 1.11%. SPS Commerce’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. research analysts predict that SPS Commerce will post 0.87 EPS for the current fiscal year.
In other SPS Commerce news, CFO Kimberly K. Nelson sold 5,968 shares of the company’s stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $67.00, for a total transaction of $399,856.00. Following the sale, the chief financial officer now owns 58,710 shares of the company’s stock, valued at $3,933,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SPSC. Tensile Capital Management LLC bought a new stake in SPS Commerce during the fourth quarter valued at $13,875,000. Citadel Advisors LLC boosted its position in SPS Commerce by 440.2% during the fourth quarter. Citadel Advisors LLC now owns 257,541 shares of the software maker’s stock valued at $12,514,000 after acquiring an additional 209,865 shares during the last quarter. Wells Fargo & Company MN boosted its position in SPS Commerce by 56.4% during the fourth quarter. Wells Fargo & Company MN now owns 484,882 shares of the software maker’s stock valued at $23,561,000 after acquiring an additional 174,924 shares during the last quarter. Renaissance Technologies LLC boosted its position in SPS Commerce by 132.5% during the fourth quarter. Renaissance Technologies LLC now owns 284,400 shares of the software maker’s stock valued at $13,819,000 after acquiring an additional 162,100 shares during the last quarter. Finally, Millennium Management LLC boosted its position in SPS Commerce by 39.9% during the fourth quarter. Millennium Management LLC now owns 353,420 shares of the software maker’s stock valued at $17,173,000 after acquiring an additional 100,878 shares during the last quarter. 98.38% of the stock is currently owned by institutional investors and hedge funds.
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SPS Commerce Company Profile
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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