BlackRock Fund Advisors recently announced the acquisition of new stake in SPS Commerce Inc. (NASDAQ:SPSC). The institutional investor has increased its shareholding in the Technology company by 1.31% to 5.34 million shares with purchase of 68991.0 shares. This fresh investment now brings its stake to 14.82% valued currently at $685.97 million. In addition, The Vanguard Group, Inc. raised its holdings by 54476.0 to 3.94 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.83% or 10068.0 shares – to 1.23 million shares.
With over 96040.0 SPS Commerce Inc. (SPSC) shares trading Tuesday and a closing price of $139.47 on the day, the dollar volume was approximately $13.39 million. The shares have shown a positive half year performance of 20.17% and its price on 01/24/23 gained nearly 0.39%. Currently, there are 36.09M common shares owned by the public and among those 35.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for SPSC have a consensus price objective of $152.43. The analysts have set the share’s price value over the next 12 months at a high of $160.00 and a low of $148.00. The average price target is 8.5% above its recent price level and an upside to the estimated low will see the stock gain 5.76% over that period. But an upside of 12.83% will see the stock hit the forecast high price target while median target price for the stock is $150.00.
Insiders at the company have transacted a total of 110 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 196,105 shares. Insider sales of the common stock occurred on 81 occasions, with total insider shares sold totaling 196,061 shares.
The top 3 mutual fund holders in SPS Commerce Inc. are iShares Core S&P Small Cap ETF, Neuberger Berman Genesis Fund, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.66 million shares of the company’s stock, all valued at over $341.87 million. The company sold 6361.0 shares recently to bring their total holdings to about 7.39% of the shares outstanding. Neuberger Berman Genesis Fund sold 9843.0 shares to see its total holdings shrink to 1.32 million shares valued at over $168.97 million and representing 3.65% of the shares outstanding. Vanguard Total Stock Market Index bought 10631.0 shares to bring its total holdings to over 1.1 million shares at a value of $140.91 million. Vanguard Total Stock Market Index now owns shares totaling to 3.04% of the shares outstanding.
Shares of SPS Commerce Inc. (NASDAQ: SPSC) opened at $138.81, down -$0.12 from a prior closing price of $138.93. However, the script later moved the day high at 140.44, up 0.39%. The company’s stock has a 5-day price change of 3.94% and 12.29% over the past three months. SPSC shares are trading 8.60% year to date (YTD), with the 12-month market performance up to 20.18% higher. It has a 12-month low price of $96.41 and touched a high of $146.81 over the same period. SPSC has an average intraday trading volume of 128.35K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.90%, 6.23%, and 14.71% respectively.
Institutional ownership of SPS Commerce Inc. (NASDAQ: SPSC) 36.09M shares outstanding. Mutual fund holders own 6.55%, while other institutional holders and individual stakeholders account for 62.37% and 39.68% respectively.
It has a market capitalization of $4.96B and a beta (3y monthly) value of 0.76. The stock’s trailing 12-month PE ratio is 99.20, while the earnings-per-share (ttm) stands at $1.41. The company has a PEG of 6.61 and a Quick Ratio of 3.20 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.54% over the week and 3.12% over the month.
Analysts forecast that SPS Commerce Inc. (SPSC) will achieve an EPS of $0.54 for the current quarter, $0.58 for the next quarter and $2.49 for 2023. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.47 a year ago. Earnings per share for the fiscal year are expected to decrease by -4.00%, and 9.71% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 53.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate SPS Commerce Inc. (SPSC) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SPSC, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on December 14, 2022, with the firm’s price target at $151. Northland Capital coverage for the SPS Commerce Inc. (SPSC) stock in a research note released on October 29, 2021 offered a Market Perform rating with a price target of $170. Loop Capital was of a view on October 12, 2021 that the stock is Buy, while The Benchmark Company gave the stock Buy rating on September 01, 2021, issuing a price target of $120- $150. Robert W. Baird on their part issued Outperform rating on July 30, 2021.
