Pacific Crest Initiates Coverage on SPS Commerce Inc. (SPSC)
Equities researchers at Pacific Crest assumed coverage on shares of SPS Commerce Inc. (NASDAQ:SPSC) in a research report issued to clients and investors on Thursday. The brokerage set an “overweight” rating and a $85.00 price target on the stock. Pacific Crest’s price objective indicates a potential upside of 15.79% from the stock’s previous close.
Several other brokerages also recently issued reports on SPSC. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. First Analysis began coverage on SPS Commerce in a report on Monday, September 26th. They set an “overweight” rating and a $86.00 price target for the company. Finally, Needham & Company LLC upped their price target on SPS Commerce from $70.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, September 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. SPS Commerce has an average rating of “Buy” and an average price target of $78.25.
Shares of SPS Commerce (NASDAQ:SPSC) opened at 73.41 on Thursday. The stock’s 50 day moving average price is $68.17 and its 200-day moving average price is $57.20. The firm has a market cap of $1.25 billion, a P/E ratio of 262.18 and a beta of 1.23. SPS Commerce has a 12-month low of $38.35 and a 12-month high of $78.29.
SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm earned $474 million during the quarter, compared to the consensus estimate of $47.06 million. SPS Commerce had a return on equity of 3.84% and a net margin of 2.73%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. On average, analysts predict that SPS Commerce will post $0.98 earnings per share for the current fiscal year.
In other news, CEO Archie C. Black sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the chief executive officer now owns 78,600 shares of the company’s stock, valued at approximately $4,981,668. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Smerklo sold 580 shares of the company’s 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 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. 2.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its position in shares of SPS Commerce by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,322 shares of the company’s stock worth $141,000 after buying an additional 285 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of SPS Commerce during the second quarter worth approximately $180,000. Menta Capital LLC purchased a new position in shares of SPS Commerce during the second quarter worth approximately $212,000. HBK Investments L P purchased a new position in shares of SPS Commerce during the first quarter worth approximately $273,000. Finally, Suntrust Banks Inc. purchased a new position in shares of SPS Commerce during the second quarter worth approximately $326,000.
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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