BidaskClub Lowers SPS Commerce (NASDAQ:SPSC) to Sell

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BidaskClub downgraded shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a sell rating in a research report released on Friday morning, BidAskClub reports.

Several other research analysts also recently commented on the stock. First Analysis upgraded shares of SPS Commerce from a neutral rating to an outperform rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of SPS Commerce from a hold rating to a strong-buy rating and set a $128.00 price objective for the company in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a buy rating and set a $120.00 target price (up previously from $110.00) on shares of SPS Commerce in a research note on Friday, April 26th. Canaccord Genuity boosted their target price on shares of SPS Commerce from $115.00 to $120.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Benchmark reaffirmed a buy rating and set a $120.00 target price (up previously from $110.00) on shares of SPS Commerce in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $116.30.

Shares of SPSC opened at $103.76 on Friday. SPS Commerce has a one year low of $75.83 and a one year high of $118.28. The company has a market cap of $1.78 billion, a P/E ratio of 85.05, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.67 and a quick ratio of 4.67. The firm has a 50 day simple moving average of $105.38 and a two-hundred day simple moving average of $104.33.

SPS Commerce’s stock is set to split before the market opens on Thursday, August 22nd. The 2-1 split was announced on Thursday, July 25th. The newly issued shares will be issued to shareholders after the market closes on Wednesday, August 21st.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, July 25th. The software maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.40 by $0.20. SPS Commerce had a net margin of 11.69% and a return on equity of 9.10%. The business had revenue of $68.53 million during the quarter, compared to the consensus estimate of $68.13 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. On average, analysts expect that SPS Commerce will post 1.74 earnings per share for the current fiscal year.

In other SPS Commerce news, CEO Archie C. Black sold 25,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $112.61, for a total transaction of $2,815,250.00. Following the sale, the chief executive officer now owns 68,344 shares of the company’s stock, valued at $7,696,217.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kimberly K. Nelson sold 10,009 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $112.46, for a total transaction of $1,125,612.14. Following the sale, the chief financial officer now directly owns 60,996 shares in the company, valued at approximately $6,859,610.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,653 shares of company stock worth $6,235,321. Insiders own 3.34% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new position in shares of SPS Commerce during the second quarter valued at about $272,000. Nuveen Asset Management LLC acquired a new position in shares of SPS Commerce during the second quarter valued at about $38,976,000. UBS Asset Management Americas Inc. raised its holdings in shares of SPS Commerce by 4.6% during the second quarter. UBS Asset Management Americas Inc. now owns 14,944 shares of the software maker’s stock valued at $1,527,000 after purchasing an additional 655 shares during the period. Citadel Advisors LLC raised its holdings in shares of SPS Commerce by 630.9% during the second quarter. Citadel Advisors LLC now owns 28,299 shares of the software maker’s stock valued at $2,893,000 after purchasing an additional 24,427 shares during the period. Finally, Jefferies Group LLC acquired a new position in shares of SPS Commerce during the second quarter valued at about $313,000. 99.41% of the stock is currently owned by institutional investors.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It offers solutions through the SPS Commerce platform, a cloud-based platform that enhances the way retailers, suppliers, grocers, distributors, and logistics firms manage and fulfill orders, administer sell-through performance, and source new items.

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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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