SPS Commerce (SPSC) Board of Directors Declares Share Repurchase Program
SPS Commerce (NASDAQ:SPSC) announced that its Board of Directors has approved a share buyback plan, which allows the company to buyback $50.00 million in outstanding shares on Thursday, November 2nd, EventVestor reports. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
SPS Commerce (NASDAQ SPSC) opened at $48.45 on Friday. The stock has a market cap of $834.50, a PE ratio of 73.41, a P/E/G ratio of 3.28 and a beta of 1.07. SPS Commerce has a one year low of $45.03 and a one year high of $73.16.
SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $56.15 million. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. SPS Commerce’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. equities analysts expect that SPS Commerce will post 0.59 earnings per share for the current year.
SPSC has been the topic of a number of research reports. Northland Securities set a $84.00 target price on shares of SPS Commerce and gave the company a “buy” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $74.00 target price on shares of SPS Commerce and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub cut shares of SPS Commerce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus dropped their target price on shares of SPS Commerce from $75.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $69.78.
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About SPS Commerce
SPS Commerce, Inc is a provider of cloud-based supply chain management solutions, providing network-proven fulfillment, sourcing and item assortment management solutions, along with retail performance analytics. The Company provides its solutions through the SPS Commerce platform, a cloud-based product suite that manages the way suppliers, retailers, distributors and logistics firms orchestrate the sourcing, set up of new vendors and items, and fulfillment of products that customers buy from retailers and suppliers.
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