Proficio Capital Partners LLC Buys New Position in SPS Commerce, Inc. (NASDAQ:SPSC)

Proficio Capital Partners LLC bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 76,540 shares of the software maker's stock, valued at approximately $14,083,000. Proficio Capital Partners LLC owned 0.20% of SPS Commerce at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SPSC. Blue Trust Inc. boosted its position in SPS Commerce by 140.8% during the 3rd quarter. Blue Trust Inc. now owns 171 shares of the software maker's stock worth $32,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. boosted its position in SPS Commerce by 129.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 177 shares of the software maker's stock worth $34,000 after buying an additional 100 shares during the period. R Squared Ltd acquired a new stake in SPS Commerce during the 4th quarter worth approximately $57,000. Arcadia Investment Management Corp MI acquired a new stake in SPS Commerce during the 4th quarter worth approximately $57,000. Finally, Avior Wealth Management LLC raised its holdings in SPS Commerce by 1,358.3% during the 3rd quarter. Avior Wealth Management LLC now owns 350 shares of the software maker's stock worth $68,000 after purchasing an additional 326 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Dan Juckniess sold 2,591 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $148.02, for a total value of $383,519.82. Following the sale, the executive vice president now directly owns 1,367,584 shares of the company's stock, valued at approximately $202,429,783.68. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly K. Nelson sold 9,290 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total transaction of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at approximately $26,620,592.18. The trade was a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,695 shares of company stock worth $7,781,086 over the last quarter. 1.00% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPSC shares. Robert W. Baird lowered their price target on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Citigroup lowered their price objective on shares of SPS Commerce from $237.00 to $233.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Northland Securities reiterated a "market perform" rating and issued a $181.00 price objective (down previously from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of SPS Commerce from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, Piper Sandler lowered their price objective on shares of SPS Commerce from $198.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, SPS Commerce has an average rating of "Moderate Buy" and an average price target of $207.11.

SPS Commerce Price Performance

NASDAQ:SPSC traded up $1.67 on Wednesday, reaching $133.83. 209,338 shares of the company's stock were exchanged, compared to its average volume of 306,644. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 65.60 and a beta of 0.88. SPS Commerce, Inc. has a 52 week low of $130.36 and a 52 week high of $218.61. The stock has a fifty day simple moving average of $171.81 and a 200-day simple moving average of $183.37.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last issued its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.21). SPS Commerce had a return on equity of 12.27% and a net margin of 12.08%. As a group, sell-side analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

SPS Commerce Company Profile

SPS Commerce, Inc provides cloud-based supply chain management solutions in the United States and internationally. It offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, distributors, and logistics firms manage and fulfill omnichannel orders, optimize sell-through performance, and automate new trading relationships.