SPS Commerce (NASDAQ:SPSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $106.00 price target on the software maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.87% from the company’s current price.
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. “
Several other equities analysts also recently weighed in on the company. TheStreet raised SPS Commerce from a “c+” rating to a “b-” rating in a research report on Friday, October 26th. BidaskClub raised SPS Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 27th. Oppenheimer lifted their target price on SPS Commerce from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, October 26th. Finally, Canaccord Genuity lifted their target price on SPS Commerce from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.56.
NASDAQ SPSC traded up $1.03 during trading on Thursday, hitting $93.91. The stock had a trading volume of 259,353 shares, compared to its average volume of 198,927. The company has a market cap of $1.64 billion, a P/E ratio of 223.60, a P/E/G ratio of 3.59 and a beta of 0.78. SPS Commerce has a twelve month low of $45.02 and a twelve month high of $100.68.
In other news, COO James J. Frome sold 3,280 shares of SPS Commerce stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $90.00, for a total value of $295,200.00. Following the completion of the transaction, the chief operating officer now owns 31,892 shares in the company, valued at approximately $2,870,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Archie C. Black sold 10,000 shares of SPS Commerce stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the chief executive officer now owns 95,852 shares of the company’s stock, valued at approximately $8,626,680. The disclosure for this sale can be found here. Insiders sold a total of 18,596 shares of company stock valued at $1,723,345 in the last quarter. Company insiders own 2.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SPSC. California Public Employees Retirement System boosted its stake in shares of SPS Commerce by 17.8% in the 1st quarter. California Public Employees Retirement System now owns 17,651 shares of the software maker’s stock valued at $1,131,000 after buying an additional 2,666 shares during the period. LPL Financial LLC purchased a new position in shares of SPS Commerce in the 1st quarter valued at about $217,000. Principal Financial Group Inc. boosted its stake in shares of SPS Commerce by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 132,225 shares of the software maker’s stock valued at $8,472,000 after buying an additional 3,342 shares during the period. Amalgamated Bank purchased a new position in shares of SPS Commerce in the 2nd quarter valued at about $202,000. Finally, Fred Alger Management Inc. boosted its stake in shares of SPS Commerce by 63.0% in the 2nd quarter. Fred Alger Management Inc. now owns 349,831 shares of the software maker’s stock valued at $25,706,000 after buying an additional 135,261 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.
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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