SPS Commerce, Inc. (SPSC) Stock Rating Upgraded by Zacks Investment Research

SPS Commerce, Inc. (NASDAQ:SPSC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $56.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.58% from the stock’s previous close.

According to Zacks, “SPS Commerce is a provider of on-demand supply chain management solutions, providing integration, collaboration, connectivity, visibility and data analytics to its customers worldwide. The Company delivers its solutions over the Internet using a Software-as-a-Service model to improve the way suppliers, retailers, distributors and other customers manage and fulfill orders. The Company’s delivery model also enables it to offer greater functionality, integration and reliability with less cost and risk than traditional solutions. The Company provides its solutions through SPSCommerce.net, a hosted software. SPSCommerce.net uses pre-built integrations to eliminate the need for on-premise software and support staff, which enables its supplier customers to shorten supply cycle times, optimize inventory levels, reduce costs and satisfy retailer requirements. SPS Commerce is headquartered in Minneapolis. “

A number of other analysts have also recently issued reports on SPSC. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of SPS Commerce in a research note on Tuesday, August 8th. Stifel Nicolaus reduced their price objective on shares of SPS Commerce from $75.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Canaccord Genuity reduced their price objective on shares of SPS Commerce from $65.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, October 27th. BidaskClub cut shares of SPS Commerce from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Benchmark Co. reissued a “sell” rating on shares of SPS Commerce in a research note on Monday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.78.

Shares of SPS Commerce (NASDAQ SPSC) traded up $0.43 during mid-day trading on Wednesday, hitting $48.45. 405,067 shares of the stock traded hands, compared to its average volume of 188,708. The stock has a market cap of $827.11, a price-to-earnings ratio of 72.76, a PEG ratio of 3.25 and a beta of 1.07.

SPS Commerce (NASDAQ:SPSC) last announced its earnings results on Thursday, October 26th. The software maker reported $0.23 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $56.15 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. equities analysts expect that SPS Commerce will post 0.59 earnings per share for the current year.

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Several large investors have recently modified their holdings of SPSC. Parametric Portfolio Associates LLC boosted its position in shares of SPS Commerce by 32.4% during the first quarter. Parametric Portfolio Associates LLC now owns 17,978 shares of the software maker’s stock worth $1,052,000 after acquiring an additional 4,395 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of SPS Commerce by 83.4% during the first quarter. Victory Capital Management Inc. now owns 2,003 shares of the software maker’s stock worth $117,000 after acquiring an additional 911 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of SPS Commerce by 1.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 3,890 shares of the software maker’s stock worth $228,000 after acquiring an additional 70 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of SPS Commerce by 4.2% during the first quarter. Principal Financial Group Inc. now owns 138,178 shares of the software maker’s stock worth $8,082,000 after acquiring an additional 5,632 shares during the last quarter. Finally, FMR LLC boosted its position in shares of SPS Commerce by 33.6% during the first quarter. FMR LLC now owns 850,300 shares of the software maker’s stock worth $49,734,000 after acquiring an additional 214,000 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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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