SPS Commerce (SPSC) Rating Lowered to Sell at ValuEngine

SPS Commerce (NASDAQ:SPSC) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded SPS Commerce from a “buy” rating to a “hold” rating in a report on Thursday, December 28th. BidaskClub upgraded SPS Commerce from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Benchmark restated a “sell” rating on shares of SPS Commerce in a report on Monday, October 30th. Canaccord Genuity dropped their price objective on SPS Commerce from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, October 27th. Finally, Oppenheimer dropped their price objective on SPS Commerce from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

SPS Commerce (NASDAQ:SPSC) opened at $48.59 on Friday. The company has a market capitalization of $836.93, a P/E ratio of 99.17, a P/E/G ratio of 3.28 and a beta of 1.07. SPS Commerce has a 52-week low of $45.02 and a 52-week high of $72.60.

SPS Commerce (NASDAQ:SPSC) last released its quarterly 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 for the quarter, compared to analyst estimates of $56.15 million. SPS Commerce had a return on equity of 4.25% and a net margin of 3.97%. SPS Commerce’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. research analysts anticipate that SPS Commerce will post 0.59 EPS for the current year.

SPS Commerce announced that its Board of Directors has authorized a share buyback plan on Thursday, November 2nd that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation bought a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $117,000. Riverhead Capital Management LLC increased its holdings in shares of SPS Commerce by 113.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the software maker’s stock valued at $136,000 after acquiring an additional 1,131 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of SPS Commerce in the 3rd quarter valued at approximately $125,000. Pinebridge Investments L.P. increased its holdings in shares of SPS Commerce by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,265 shares of the software maker’s stock valued at $145,000 after acquiring an additional 24 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of SPS Commerce by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,358 shares of the software maker’s stock valued at $150,000 after acquiring an additional 355 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

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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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