SPS Commerce (SPSC) to Repurchase $50.00 million in Shares
SPS Commerce (NASDAQ:SPSC) announced that its Board of Directors has initiated a stock repurchase 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 repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
SPS Commerce (NASDAQ:SPSC) traded up $0.43 during midday trading on Friday, hitting $48.45. 405,067 shares of the stock were exchanged, compared to its average volume of 188,708. The stock has a market capitalization of $827.11, a P/E ratio of 72.76, a P/E/G ratio of 3.25 and a beta of 1.07.
SPS Commerce (NASDAQ:SPSC) last issued its quarterly earnings results on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. SPS Commerce had a net margin of 3.97% and a return on equity of 4.25%. The firm had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $56.15 million. During the same period in the previous year, the business earned $0.27 earnings per share. SPS Commerce’s revenue for the quarter was up 13.9% compared to the same quarter last year. equities analysts forecast that SPS Commerce will post 0.59 EPS for the current year.
Several brokerages have recently issued reports on SPSC. KeyCorp restated a “hold” rating on shares of SPS Commerce in a research report on Friday, August 25th. Canaccord Genuity cut their price target on shares of SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, October 27th. Zacks Investment Research upgraded shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a report on Wednesday. BidaskClub upgraded shares of SPS Commerce from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, Stifel Nicolaus cut their price target 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $69.78.
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SPS Commerce Company Profile
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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