SPS Commerce Inc. (SPSC) Shares Up 4.9%
SPS Commerce Inc. (NASDAQ:SPSC) shot up 4.9% on Wednesday . The company traded as high as $74.49 and last traded at $70.85, with a volume of 789,666 shares changing hands. The stock had previously closed at $67.51.
A number of brokerages recently weighed in on SPSC. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Wednesday, August 3rd. Needham & Company LLC boosted their price objective on shares of SPS Commerce from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.67.
The stock has a market capitalization of $1.21 billion, a PE ratio of 255.21 and a beta of 1.23. The stock’s 50-day moving average price is $66.37 and its 200-day moving average price is $55.60.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The firm earned $474 million during the quarter, compared to the consensus estimate of $47.06 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts predict that SPS Commerce Inc. will post $0.98 earnings per share for the current fiscal year.
In other SPS Commerce news, Director Michael A. Smerklo sold 580 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $67.40, for a total value of $39,092.00. Following the completion of the sale, the director now directly owns 760 shares of the company’s stock, valued at approximately $51,224. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Archie C. Black sold 10,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $63.38, for a total transaction of $633,800.00. Following the completion of the sale, the chief executive officer now directly owns 78,600 shares of the company’s stock, valued at $4,981,668. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of SPS Commerce by 9.0% in the second quarter. Royal Bank of Canada now owns 408,382 shares of the company’s stock worth $24,747,000 after buying an additional 33,591 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of SPS Commerce by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 53,519 shares of the company’s stock worth $3,244,000 after buying an additional 756 shares during the period. AQR Capital Management LLC increased its stake in shares of SPS Commerce by 43.8% in the second quarter. AQR Capital Management LLC now owns 7,064 shares of the company’s stock worth $428,000 after buying an additional 2,151 shares during the period. Polar Capital LLP bought a new stake in shares of SPS Commerce during the second quarter worth $3,295,000. Finally, Ranger Investment Management L.P. increased its stake in shares of SPS Commerce by 8.9% in the second quarter. Ranger Investment Management L.P. now owns 462,313 shares of the company’s stock worth $28,016,000 after buying an additional 37,872 shares during the period.
SPS Commerce Company Profile
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions. The Company provides integrations and retail performance analytics across the world. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that enables suppliers, retailers, distributors and other customers place, manage and fulfill orders.
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