SPS Commerce (NASDAQ:SPSC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of SPS Commerce (NASDAQ:SPSC) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $114.00 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. “
Several other equities analysts also recently weighed in on the company. ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. Northland Securities reiterated a hold rating on shares of Lendingtree in a research report on Friday, April 26th. First Analysis upgraded SPS Commerce from a neutral rating to an outperform rating in a research report on Friday, April 26th. JMP Securities lifted their target price on SPS Commerce from $98.00 to $120.00 and gave the company a market outperform rating in a research report on Friday, April 26th. Finally, BidaskClub cut Amyris from a hold rating to a sell rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. SPS Commerce has a consensus rating of Buy and an average price target of $114.90.
SPS Commerce (NASDAQ:SPSC) last released its earnings results on Thursday, July 25th. The software maker reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.20. The company had revenue of $68.53 million for the quarter, compared to the consensus estimate of $68.13 million. SPS Commerce had a return on equity of 8.67% and a net margin of 10.71%. SPS Commerce’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Sell-side analysts anticipate that SPS Commerce will post 1.6 earnings per share for the current fiscal year.
In other SPS Commerce news, Director Philip Soran sold 600 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.62, for a total transaction of $65,772.00. Following the sale, the director now directly owns 8,508 shares of the company’s stock, valued at $932,646.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sven Wehrwein sold 2,644 shares of SPS Commerce stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $105.00, for a total value of $277,620.00. Following the completion of the sale, the director now directly owns 9,235 shares in the company, valued at $969,675. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,949 shares of company stock worth $4,100,372. Insiders own 3.34% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System increased its holdings in shares of SPS Commerce by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the software maker’s stock worth $696,000 after purchasing an additional 100 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of SPS Commerce by 1.8% in the second quarter. State of Alaska Department of Revenue now owns 6,096 shares of the software maker’s stock worth $623,000 after purchasing an additional 110 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of SPS Commerce by 2.5% in the first quarter. Crossmark Global Holdings Inc. now owns 4,913 shares of the software maker’s stock worth $521,000 after purchasing an additional 120 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of SPS Commerce by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,842 shares of the software maker’s stock worth $726,000 after purchasing an additional 124 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in shares of SPS Commerce by 6.2% in the second quarter. Zions Bancorporation N.A. now owns 2,205 shares of the software maker’s stock worth $225,000 after purchasing an additional 128 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other 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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