Shares of SPS Commerce, Inc. (NASDAQ:SPSC) have been given an average rating of “Hold” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $68.17.
SPSC has been the topic of a number of research reports. ValuEngine lowered SPS Commerce from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. BidaskClub upgraded SPS Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Benchmark restated a “sell” rating on shares of SPS Commerce in a report on Monday, October 30th. Oppenheimer restated a “buy” rating and issued a $62.00 price target on shares of SPS Commerce in a report on Thursday, January 25th. Finally, Canaccord Genuity cut their price target on SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, October 27th.
Shares of SPS Commerce (SPSC) opened at $54.68 on Wednesday. The company has a market capitalization of $917.66, a PE ratio of -390.57, a PEG ratio of 2.87 and a beta of 1.10. SPS Commerce has a twelve month low of $45.02 and a twelve month high of $64.85.
SPS Commerce announced that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new position in SPS Commerce during the third quarter worth approximately $117,000. SG Americas Securities LLC acquired a new position in SPS Commerce during the third quarter worth approximately $125,000. Magnetar Financial LLC acquired a new position in SPS Commerce during the third quarter worth approximately $203,000. Piedmont Investment Advisors LLC acquired a new position in SPS Commerce during the second quarter worth approximately $237,000. Finally, Koch Industries Inc. acquired a new position in SPS Commerce during the fourth quarter worth approximately $240,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.
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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