MINNEAPOLIS—Dan Juckniess, Executive Vice President and Chief Sales Officer at SPS Commerce Inc. (NASDAQ:SPSC), a $7.2 billion market cap company currently rated "GREAT" by InvestingPro's Financial Health Score, recently executed a series of stock transactions, according to a regulatory filing.
On December 11, Juckniess sold 300 shares of SPS Commerce common stock, garnering a total of $60,038. The shares were sold at an average price of $200.13, with individual sale prices ranging from $200.00 to $200.19 per share.
In a corresponding move, Juckniess acquired 300 shares through the exercise of stock options at a price of $56.25 per share, totaling $16,875. Following these transactions, Juckniess holds 23,705 shares directly.
These transactions were part of a routine filing with the Securities and Exchange Commission, reflecting Juckniess's ongoing management of his holdings in the company.
In other recent news, SPS Commerce, a cloud-based supply chain management software firm, reported a 21% increase in Q3 2024 revenue, reaching $163.7 million. This growth was accompanied by a similar rise in recurring revenue, a key indicator of business stability, and a 19% increase in adjusted EBITDA to $48.4 million. The company attributes part of its robust growth to strategic acquisitions such as SupplyPike and Traverse Systems.
In parallel, Baird, a financial services firm, raised the price target for SPS Commerce to $188 from $186, maintaining a Neutral rating on the stock. This adjustment was based on the company's strong Q3 performance and the impact of mergers and acquisitions. However, Piper Sandler initiated coverage on SPS Commerce with a Neutral rating and a price target of $198. The firm noted slower customer growth for SPS Commerce in fiscal year 2024, considering Wall Street's expectations for a substantial rebound in new customer acquisitions for fiscal year 2025 as slightly optimistic.
For Q4 2024, SPS Commerce projects a revenue between $168.5 million and $169.5 million, with the full-year revenue expected to grow by 18% to 19%. The company is also reassessing its total addressable market and will provide updates in 2025. These projections indicate recent developments in the company's financial performance and future plans.
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