Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $69.71.
Several brokerages recently commented on SPSC. Zacks Investment Research cut SPS Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Oppenheimer dropped their price objective on SPS Commerce from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Stifel Nicolaus dropped their price objective on SPS Commerce from $75.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, October 27th. BidaskClub upgraded SPS Commerce from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Benchmark reiterated a “sell” rating on shares of SPS Commerce in a research note on Monday, October 30th.
A number of institutional investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its stake in SPS Commerce by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock worth $145,000 after acquiring an additional 24 shares in the last quarter. Zacks Investment Management raised its stake in SPS Commerce by 0.4% during the second quarter. Zacks Investment Management now owns 20,204 shares of the software maker’s stock worth $1,288,000 after acquiring an additional 75 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in SPS Commerce by 1.5% during the second quarter. Parametric Portfolio Associates LLC now owns 18,243 shares of the software maker’s stock worth $1,163,000 after acquiring an additional 265 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in SPS Commerce by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,084 shares of the software maker’s stock worth $835,000 after acquiring an additional 279 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in SPS Commerce by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,358 shares of the software maker’s stock worth $150,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.
SPS Commerce (NASDAQ:SPSC) last issued its 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. The firm had revenue of $56.15 million during the quarter, compared to analysts’ expectations of $56.15 million. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. SPS Commerce’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.27 earnings per share. equities analysts predict that SPS Commerce will post 0.59 EPS for the current fiscal year.
SPS Commerce declared that its board has initiated a stock repurchase program on Thursday, November 2nd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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