SPS Commerce (SPSC) Upgraded to “B-” by TheStreet

TheStreet upgraded shares of SPS Commerce (NASDAQ:SPSC) from a c+ rating to a b- rating in a research report sent to investors on Friday morning.

A number of other analysts have also weighed in on the stock. BidaskClub upgraded shares of SPS Commerce from a sell rating to a hold rating in a research report on Tuesday. ValuEngine upgraded shares of SPS Commerce from a buy rating to a strong-buy rating in a research report on Saturday. Oppenheimer raised their target price on shares of SPS Commerce from $85.00 to $95.00 and gave the company an outperform rating in a research report on Friday. Canaccord Genuity lifted their price target on shares of SPS Commerce from $85.00 to $95.00 and gave the stock a buy rating in a report on Friday. Finally, Benchmark lifted their price target on shares of SPS Commerce to $98.00 and gave the stock a buy rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $90.00.

Shares of SPS Commerce stock opened at $95.81 on Friday. SPS Commerce has a fifty-two week low of $45.02 and a fifty-two week high of $100.68. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 228.12, a P/E/G ratio of 4.13 and a beta of 0.75.

In other news, COO James J. Frome sold 3,280 shares of SPS Commerce stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $90.00, for a total transaction of $295,200.00. Following the transaction, the chief operating officer now owns 31,892 shares in the company, valued at $2,870,280. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin J. Leestma sold 5,316 shares of SPS Commerce stock in a transaction on Monday, September 17th. The stock was sold at an average price of $99.35, for a total transaction of $528,144.60. Following the transaction, the director now owns 20,935 shares in the company, valued at approximately $2,079,892.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,596 shares of company stock worth $1,723,345. 3.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPSC. BlackRock Inc. raised its stake in SPS Commerce by 10.4% during the second quarter. BlackRock Inc. now owns 2,385,431 shares of the software maker’s stock worth $175,281,000 after buying an additional 224,322 shares during the last quarter. FMR LLC raised its stake in SPS Commerce by 19.8% during the second quarter. FMR LLC now owns 1,218,502 shares of the software maker’s stock worth $89,536,000 after buying an additional 201,002 shares during the last quarter. Fred Alger Management Inc. raised its stake in SPS Commerce by 63.0% during the second quarter. Fred Alger Management Inc. now owns 349,831 shares of the software maker’s stock worth $25,706,000 after buying an additional 135,261 shares during the last quarter. Millennium Management LLC raised its stake in SPS Commerce by 159.6% during the second quarter. Millennium Management LLC now owns 158,314 shares of the software maker’s stock worth $11,633,000 after buying an additional 97,329 shares during the last quarter. Finally, Northpointe Capital LLC bought a new position in SPS Commerce during the second quarter worth $6,919,000. 95.11% of the stock is 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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