SPS Commerce (NASDAQ:SPSC) Upgraded to Strong-Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a strong-buy rating in a research note published on Thursday, Zacks.com reports. The firm currently has $70.00 price target on the software maker’s stock.

According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “

A number of other analysts have also recently commented on SPSC. Benchmark upped their price target on SPS Commerce from $60.00 to $68.00 and gave the stock a buy rating in a research report on Friday, February 14th. Craig Hallum upped their price target on SPS Commerce from $60.00 to $71.00 and gave the stock a buy rating in a research report on Friday, February 14th. Robert W. Baird assumed coverage on SPS Commerce in a research report on Tuesday. They issued a neutral rating and a $67.00 price target for the company. Oppenheimer restated a market perform rating and issued a $61.00 price target on shares of SPS Commerce in a research report on Friday, January 17th. Finally, William Blair restated a market perform rating on shares of SPS Commerce in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $65.75.

SPS Commerce stock traded down $1.52 during mid-day trading on Thursday, reaching $56.25. 128,916 shares of the stock traded hands, compared to its average volume of 171,458. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.21 and a quick ratio of 4.52. The business’s 50-day moving average is $57.79 and its 200-day moving average is $58.45. The stock has a market capitalization of $2.07 billion, a PE ratio of 60.16, a price-to-earnings-growth ratio of 4.03 and a beta of 0.66. SPS Commerce has a 12-month low of $44.07 and a 12-month high of $62.26.

SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, February 13th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $71.99 million. SPS Commerce had a return on equity of 10.23% and a net margin of 12.08%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities analysts anticipate that SPS Commerce will post 0.98 EPS for the current fiscal year.

In related news, CEO Archie C. Black sold 22,608 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $59.62, for a total transaction of $1,347,888.96. Following the completion of the sale, the chief executive officer now owns 159,296 shares in the company, valued at $9,497,227.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Archie C. Black sold 10,436 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $60.04, for a total value of $626,577.44. Following the transaction, the chief executive officer now directly owns 147,124 shares of the company’s stock, valued at $8,833,324.96. The disclosure for this sale can be found here. Insiders have sold 132,270 shares of company stock valued at $7,827,357 in the last quarter. 3.34% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in SPSC. Conestoga Capital Advisors LLC boosted its stake in SPS Commerce by 99.1% during the third quarter. Conestoga Capital Advisors LLC now owns 1,310,333 shares of the software maker’s stock valued at $61,677,000 after buying an additional 652,097 shares during the last quarter. Granahan Investment Management Inc. MA lifted its stake in shares of SPS Commerce by 248.4% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 870,931 shares of the software maker’s stock valued at $40,995,000 after purchasing an additional 620,939 shares during the last quarter. State Street Corp lifted its stake in shares of SPS Commerce by 100.5% in the 3rd quarter. State Street Corp now owns 1,060,311 shares of the software maker’s stock valued at $49,909,000 after purchasing an additional 531,348 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of SPS Commerce by 592.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 293,513 shares of the software maker’s stock valued at $13,815,000 after purchasing an additional 251,139 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of SPS Commerce by 73.9% in the 3rd quarter. Millennium Management LLC now owns 428,155 shares of the software maker’s stock valued at $20,153,000 after purchasing an additional 181,884 shares during the last quarter. 96.01% of the stock is 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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