SPS Commerce (SPSC) Cut to “Sell” at BidaskClub
SPS Commerce (NASDAQ:SPSC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
SPSC has been the topic of several other research reports. Zacks Investment Research cut shares of SPS Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Benchmark raised shares of SPS Commerce from a “hold” rating to a “buy” rating in a research report on Friday, July 27th. Canaccord Genuity lifted their target price on shares of SPS Commerce from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. First Analysis set a $86.00 target price on shares of SPS Commerce and gave the stock a “neutral” rating in a research report on Thursday, October 4th. Finally, Stifel Nicolaus lifted their target price on shares of SPS Commerce from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. SPS Commerce has an average rating of “Buy” and a consensus price target of $86.25.
Shares of SPSC opened at $85.04 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of 202.48, a price-to-earnings-growth ratio of 4.33 and a beta of 0.75. SPS Commerce has a 12-month low of $45.02 and a 12-month high of $100.68.
In other news, Director Martin J. Leestma sold 5,316 shares of SPS Commerce stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $99.35, for a total value of $528,144.60. Following the transaction, the director now directly owns 20,935 shares of the company’s stock, valued at $2,079,892.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James J. Frome sold 3,280 shares of SPS Commerce stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $90.00, for a total transaction of $295,200.00. Following the completion of the transaction, the chief operating officer now directly owns 31,892 shares in the company, valued at $2,870,280. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,811 shares of company stock worth $4,128,745. 3.60% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SPSC. SG Americas Securities LLC purchased a new position in SPS Commerce during the first quarter valued at approximately $132,000. NumerixS Investment Technologies Inc purchased a new position in SPS Commerce during the second quarter valued at approximately $156,000. Macquarie Group Ltd. grew its position in SPS Commerce by 223.7% during the second quarter. Macquarie Group Ltd. now owns 2,564 shares of the software maker’s stock valued at $188,000 after purchasing an additional 1,772 shares in the last quarter. Amalgamated Bank purchased a new position in SPS Commerce during the second quarter valued at approximately $202,000. Finally, LPL Financial LLC purchased a new position in SPS Commerce during the first quarter valued at approximately $217,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.
About SPS Commerce
SPS Commerce, Inc provides cloud-based supply chain management solutions worldwide. It provides solutions through the SPS Commerce platform, a cloud-based product suite that enhances the way retailers, suppliers, distributors, logistics firms, and other trading partners manage and fulfill orders, manage sell-through performance, and source new items.
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