Citigroup Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $233.00

SPS Commerce (NASDAQ:SPSC) had its price target lowered by equities research analysts at Citigroup from $237.00 to $233.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s price target would indicate a potential upside of 21.73% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of SPS Commerce in a research report on Wednesday, January 15th. Stifel Nicolaus cut their target price on shares of SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Robert W. Baird raised their target price on shares of SPS Commerce from $186.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Piper Sandler assumed coverage on shares of SPS Commerce in a research report on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, SPS Commerce has an average rating of “Moderate Buy” and an average target price of $219.22.

SPS Commerce Trading Down 0.1 %

Shares of SPSC opened at $191.40 on Monday. SPS Commerce has a 12 month low of $160.58 and a 12 month high of $218.74. The firm’s 50 day moving average is $189.19 and its 200-day moving average is $191.49. The stock has a market capitalization of $7.19 billion, a PE ratio of 91.92 and a beta of 0.88.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $163.69 million for the quarter, compared to analysts’ expectations of $160.30 million. SPS Commerce had a net margin of 12.83% and a return on equity of 12.60%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Equities research analysts predict that SPS Commerce will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at SPS Commerce

In related news, EVP Dan Juckniess sold 5,831 shares of SPS Commerce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the completion of the transaction, the executive vice president now owns 23,833 shares of the company’s stock, valued at $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chadwick Collins sold 6,839 shares of SPS Commerce stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $169.69, for a total transaction of $1,160,509.91. Following the transaction, the chief executive officer now directly owns 54,446 shares of the company’s stock, valued at $9,238,941.74. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On SPS Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of SPS Commerce by 129.9% during the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. R Squared Ltd bought a new stake in shares of SPS Commerce during the fourth quarter worth about $57,000. Signaturefd LLC increased its position in shares of SPS Commerce by 26.0% during the third quarter. Signaturefd LLC now owns 334 shares of the software maker’s stock worth $65,000 after acquiring an additional 69 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of SPS Commerce by 1,358.3% during the third quarter. Avior Wealth Management LLC now owns 350 shares of the software maker’s stock worth $68,000 after acquiring an additional 326 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.