SPS Commerce (SPSC) Stock Rating Upgraded by BidaskClub

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SPS Commerce (NASDAQ:SPSC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts also recently weighed in on the company. ValuEngine upgraded SPS Commerce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 27th. Oppenheimer boosted their target price on SPS Commerce from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Canaccord Genuity boosted their target price on SPS Commerce from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Benchmark boosted their target price on SPS Commerce to $98.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, First Analysis set a $86.00 target price on SPS Commerce and gave the stock a “neutral” rating in a research report on Thursday, October 4th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. SPS Commerce has an average rating of “Buy” and a consensus target price of $90.00.

SPSC stock opened at $93.09 on Tuesday. The firm has a market cap of $1.67 billion, a PE ratio of 221.64, a PEG ratio of 4.18 and a beta of 0.75. SPS Commerce has a twelve month low of $45.02 and a twelve month high of $100.68.

In related news, CEO Archie C. Black sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the chief executive officer now owns 95,852 shares in the company, valued at $8,626,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin J. Leestma sold 5,316 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $99.35, for a total value of $528,144.60. Following the completion of the sale, the director now owns 20,935 shares of the company’s stock, valued at approximately $2,079,892.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,596 shares of company stock valued at $1,723,345. 3.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPSC. Harvest Fund Management Co. Ltd bought a new stake in SPS Commerce in the third quarter valued at about $114,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in SPS Commerce in the third quarter valued at about $119,000. First Quadrant L P CA bought a new stake in SPS Commerce in the third quarter valued at about $151,000. NumerixS Investment Technologies Inc bought a new stake in SPS Commerce in the second quarter valued at about $156,000. Finally, Macquarie Group Ltd. increased its holdings in SPS Commerce by 223.7% in the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock valued at $188,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.

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Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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