Key Points
- SPS Commerce director Marty Reaume sold 4,536 shares at an average of $86.86, worth about $394,000. The sale reduced his direct stake by 26.02% to 12,894 shares.
- The company beat quarterly earnings expectations, reporting $1.39 per share versus the $1.23 consensus, while revenue of $197.65 million was slightly above estimates and grew 4.1% year over year.
- Analysts’ consensus rating is Hold, with a $79.33 average price target; shares were reported down 3.1% and opened at $82.57 on Friday.
SPS Commerce, Inc. (NASDAQ:SPSC - Get Free Report) Director Marty Reaume sold 4,536 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $86.86, for a total transaction of $393,996.96. Following the completion of the sale, the director directly owned 12,894 shares of the company's stock, valued at $1,119,972.84. This trade represents a 26.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
SPS Commerce Stock Down 3.1%
SPSC opened at $82.57 on Friday. The firm's 50 day moving average is $83.68 and its 200-day moving average is $68.27. SPS Commerce, Inc. has a 52-week low of $49.04 and a 52-week high of $96.54. The firm has a market capitalization of $2.93 billion, a P/E ratio of 36.70 and a beta of 0.66.
SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, October 29th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $197.65 million during the quarter, compared to the consensus estimate of $197.51 million. SPS Commerce had a net margin of 10.65% and a return on equity of 13.72%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Equities analysts expect that SPS Commerce, Inc. will post 3.67 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have commented on SPSC. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price objective (up from $75.00) on shares of SPS Commerce in a report on Wednesday, August 19th. Citigroup restated a "buy" rating and set a $99.00 target price (up from $82.00) on shares of SPS Commerce in a research note on Tuesday, October 20th. Morgan Stanley restated an "underweight" rating and set a $74.00 target price on shares of SPS Commerce in a research note on Monday, October 26th. Weiss Ratings raised SPS Commerce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 2nd. Finally, DA Davidson boosted their price target on SPS Commerce from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SPS Commerce currently has a consensus rating of "Hold" and a consensus target price of $79.33.
Check Out Our Latest Report on SPSC
Hedge Funds Weigh In On SPS Commerce
Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. increased its stake in shares of SPS Commerce by 72.5% in the third quarter. SBI Securities Co. Ltd. now owns 333 shares of the software maker's stock worth $27,000 after buying an additional 140 shares during the last quarter. Parallel Advisors LLC raised its holdings in SPS Commerce by 100.0% in the third quarter. Parallel Advisors LLC now owns 566 shares of the software maker's stock valued at $47,000 after acquiring an additional 283 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in SPS Commerce in the second quarter valued at $38,000. Allworth Financial LP bought a new position in SPS Commerce during the 2nd quarter valued at $45,000. Finally, Sterling Capital Management LLC boosted its stake in SPS Commerce by 163.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,007 shares of the software maker's stock valued at $83,000 after acquiring an additional 625 shares during the last quarter. 98.96% of the stock is currently owned by hedge funds and other institutional investors.
About SPS Commerce
(
Get Free Report)
SPS Commerce, Inc provides cloud-based supply chain management software for retailers, suppliers, distributors and logistics providers. Its platform helps businesses manage and automate transactions and workflows across complex retail and e-commerce networks.
The company's solutions include electronic data interchange (EDI), order management, inventory visibility, fulfillment, invoice and payment processing, product information management, and supply chain analytics. These tools are designed to connect trading partners, reduce manual data entry, improve order accuracy and support more efficient movement of products from suppliers to consumers.
Founded in 2001 and headquartered in Minneapolis, Minnesota, SPS Commerce serves businesses across retail and wholesale ecosystems in North America and other international markets.
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