SPS Commerce (NASDAQ:SPSC) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of SPS Commerce from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a report on Wednesday, November 1st. Oppenheimer dropped their price objective on shares of SPS Commerce from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Benchmark reissued a “sell” rating on shares of SPS Commerce in a report on Monday, October 30th. Stifel Nicolaus lowered their price target on shares of SPS Commerce from $75.00 to $68.00 and set a “buy” rating for the company in a report on Friday, October 27th. Finally, Canaccord Genuity lowered their price target on shares of SPS Commerce from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $68.00.

SPS Commerce (NASDAQ SPSC) traded down $0.15 on Thursday, hitting $48.19. 101,137 shares of the company’s stock traded hands, compared to its average volume of 139,026. SPS Commerce has a twelve month low of $45.02 and a twelve month high of $73.16. The company has a market cap of $832.62, a P/E ratio of 73.24, a PEG ratio of 3.27 and a beta of 1.07.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, beating 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 business had revenue of $56.15 million during the quarter, compared to the consensus estimate of $56.15 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 13.9% on a year-over-year basis. equities research analysts predict that SPS Commerce will post 0.59 earnings per share for the current year.

SPS Commerce declared that its Board of Directors has approved a share buyback plan on Thursday, November 2nd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Several large investors have recently made changes to their positions in SPSC. Vanguard Group Inc. lifted its stake in SPS Commerce by 7.1% in the second quarter. Vanguard Group Inc. now owns 963,631 shares of the software maker’s stock worth $61,441,000 after purchasing an additional 64,257 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. lifted its stake in SPS Commerce by 50.3% in the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 765,318 shares of the software maker’s stock worth $43,401,000 after purchasing an additional 256,117 shares during the last quarter. Southpoint Capital Advisors LP lifted its stake in SPS Commerce by 88.0% in the second quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the software maker’s stock worth $47,820,000 after purchasing an additional 351,103 shares during the last quarter. Janus Henderson Group PLC bought a new stake in SPS Commerce in the second quarter worth about $41,711,000. Finally, Banbury Partners LLC lifted its stake in SPS Commerce by 5.9% in the third quarter. Banbury Partners LLC now owns 511,882 shares of the software maker’s stock worth $29,029,000 after purchasing an additional 28,689 shares during the last quarter. 97.45% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for SPS Commerce (NASDAQ:SPSC)

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