BidaskClub Lowers SPS Commerce (SPSC) to Sell

BidaskClub cut shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other brokerages have also recently issued reports on SPSC. Benchmark raised shares of SPS Commerce from a hold rating to a buy rating in a report on Friday, July 27th. Needham & Company LLC reaffirmed a buy rating and issued a $82.00 target price on shares of SPS Commerce in a report on Friday, July 27th. Stifel Nicolaus upped their target price on shares of SPS Commerce from $82.00 to $90.00 and gave the company a buy rating in a report on Friday, July 27th. ValuEngine raised shares of SPS Commerce from a buy rating to a strong-buy rating in a report on Monday, September 17th. Finally, Craig Hallum reissued a buy rating and issued a $88.00 price target (up from $77.00) on shares of SPS Commerce in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $86.25.

Shares of SPSC stock traded up $2.49 on Friday, reaching $85.04. The stock had a trading volume of 313,452 shares, compared to its average volume of 149,630. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 202.48, a PEG ratio of 4.33 and a beta of 0.75. SPS Commerce has a 12 month low of $45.02 and a 12 month high of $100.68.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, July 26th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.16. The company had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $59.78 million. SPS Commerce had a net margin of 0.61% and a return on equity of 4.25%. SPS Commerce’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. As a group, research analysts anticipate that SPS Commerce will post 1.15 EPS for the current fiscal year.

In other SPS Commerce news, Director Martin J. Leestma sold 5,316 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $99.35, for a total value of $528,144.60. Following the transaction, the director now directly owns 20,935 shares of the company’s stock, valued at approximately $2,079,892.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Archie C. Black sold 10,000 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $85.33, for a total transaction of $853,300.00. Following the completion of the transaction, the chief executive officer now directly owns 89,352 shares in the company, valued at $7,624,406.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,811 shares of company stock worth $4,128,745. Insiders own 3.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SPSC. SG Americas Securities LLC bought a new position in SPS Commerce in the 1st quarter valued at about $132,000. Schwab Charles Investment Management Inc. grew its position in shares of SPS Commerce by 7.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 88,933 shares of the software maker’s stock worth $5,698,000 after purchasing an additional 5,801 shares in the last quarter. BlackRock Inc. grew its position in shares of SPS Commerce by 1.9% during the 1st quarter. BlackRock Inc. now owns 2,161,109 shares of the software maker’s stock worth $138,463,000 after purchasing an additional 40,592 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of SPS Commerce by 17.1% during the 1st quarter. New York State Common Retirement Fund now owns 38,885 shares of the software maker’s stock worth $2,491,000 after purchasing an additional 5,668 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of SPS Commerce by 17.8% during the 1st quarter. California Public Employees Retirement System now owns 17,651 shares of the software maker’s stock worth $1,131,000 after purchasing an additional 2,666 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

About SPS Commerce

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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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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