SPS Commerce Inc. (SPSC) Rating Lowered to Hold at Zacks Investment Research
SPS Commerce Inc. (NASDAQ:SPSC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 brokerages have also recently commented on SPSC. Needham & Company LLC upped their price target 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. First Analysis started coverage on shares of SPS Commerce in a research report on Monday. They set an “overweight” rating and a $86.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. SPS Commerce has an average rating of “Buy” and an average price target of $77.29.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 73.01 on Wednesday. SPS Commerce has a 12-month low of $38.35 and a 12-month high of $78.29. The company’s 50-day moving average price is $67.48 and its 200-day moving average price is $56.72. The firm has a market capitalization of $1.24 billion, a PE ratio of 260.75 and a beta of 1.23.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $474 million for the quarter, compared to analysts’ expectations of $47.06 million. SPS Commerce had a net margin of 2.73% and a return on equity of 3.84%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Analysts anticipate that SPS Commerce will post $0.98 EPS for the current year.
In other news, Director Michael A. Smerklo sold 581 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $65.74, for a total transaction of $38,194.94. Following the transaction, the director now owns 1,340 shares of the company’s stock, valued at approximately $88,091.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Smerklo sold 580 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $67.40, for a total transaction of $39,092.00. Following the transaction, the director now directly owns 760 shares in the company, valued at approximately $51,224. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Columbia Wanger Asset Management LLC boosted its position in SPS Commerce by 57.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,347,002 shares of the company’s stock worth $81,628,000 after buying an additional 491,255 shares during the period. Granahan Investment Management Inc. MA boosted its position in SPS Commerce by 17.7% in the first quarter. Granahan Investment Management Inc. MA now owns 886,935 shares of the company’s stock worth $38,085,000 after buying an additional 133,406 shares during the period. Janus Capital Management LLC boosted its position in SPS Commerce by 24.9% in the second quarter. Janus Capital Management LLC now owns 867,410 shares of the company’s stock worth $52,565,000 after buying an additional 172,907 shares during the period. Riverbridge Partners LLC boosted its position in SPS Commerce by 5.5% in the second quarter. Riverbridge Partners LLC now owns 814,643 shares of the company’s stock worth $49,367,000 after buying an additional 42,687 shares during the period. Finally, Vanguard Group Inc. boosted its position in SPS Commerce by 5.0% in the second quarter. Vanguard Group Inc. now owns 673,036 shares of the company’s stock worth $40,786,000 after buying an additional 32,278 shares during the period.
About SPS Commerce
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 to place, manage and fulfill orders.
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