Robert W. Baird Cuts SPS Commerce (NASDAQ:SPSC) Price Target to $175.00

SPS Commerce (NASDAQ:SPSC) had its target price lowered by Robert W. Baird from $188.00 to $175.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other equities research analysts also recently issued reports on SPSC. Stifel Nicolaus lowered their price objective on SPS Commerce from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Needham & Company LLC reduced their target price on SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday. Northland Securities reissued a “market perform” rating and issued a $181.00 target price (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday. Piper Sandler began coverage on SPS Commerce in a research note on Monday, November 25th. They issued a “neutral” rating and a $198.00 target price on the stock. Finally, Citigroup reduced their target price on SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.11.

SPS Commerce Stock Performance

Shares of SPSC stock opened at $148.50 on Tuesday. SPS Commerce has a 52-week low of $147.27 and a 52-week high of $218.61. The company has a market capitalization of $5.58 billion, a PE ratio of 71.05 and a beta of 0.88. The business’s fifty day moving average is $186.73 and its 200 day moving average is $189.28.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.60% and a net margin of 12.83%. On average, sell-side analysts forecast that SPS Commerce will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, EVP Dan Juckniess sold 9,819 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now directly owns 156,292 shares in the company, valued at $28,864,006.56. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,230 shares of company stock valued at $6,379,187. 1.00% of the stock is currently owned by insiders.

Institutional Trading of SPS Commerce

Several large investors have recently modified their holdings of SPSC. Blue Trust Inc. grew its stake in shares of SPS Commerce by 140.8% in the third quarter. Blue Trust Inc. now owns 171 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in SPS Commerce by 129.9% in the third quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker’s stock worth $34,000 after buying an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in SPS Commerce in the fourth quarter worth about $40,000. Hurley Capital LLC purchased a new stake in SPS Commerce in the fourth quarter worth about $41,000. Finally, R Squared Ltd purchased a new stake in SPS Commerce in the fourth quarter worth about $57,000. 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.