Proficio Capital Partners LLC Invests $14.08 Million in SPS Commerce, Inc. (NASDAQ:SPSC)

Proficio Capital Partners LLC acquired a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 76,540 shares of the software maker's stock, valued at approximately $14,083,000. Proficio Capital Partners LLC owned approximately 0.20% of SPS Commerce as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in SPS Commerce by 1.1% during the third quarter. State Street Corp now owns 1,444,083 shares of the software maker's stock valued at $280,398,000 after purchasing an additional 16,357 shares in the last quarter. Geode Capital Management LLC lifted its stake in SPS Commerce by 1.5% in the third quarter. Geode Capital Management LLC now owns 937,321 shares of the software maker's stock valued at $182,287,000 after acquiring an additional 14,174 shares during the last quarter. FMR LLC lifted its stake in SPS Commerce by 18.3% in the third quarter. FMR LLC now owns 677,145 shares of the software maker's stock valued at $131,481,000 after acquiring an additional 104,769 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SPS Commerce by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 481,416 shares of the software maker's stock valued at $88,576,000 after acquiring an additional 16,272 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in SPS Commerce by 94.5% in the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker's stock valued at $84,747,000 after acquiring an additional 210,284 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler reduced their target price 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. Stifel Nicolaus reduced their target price 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. Needham & Company LLC reduced their price objective on shares of SPS Commerce from $230.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Northland Securities restated a "market perform" rating and issued a $181.00 price objective (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Finally, Robert W. Baird reduced their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $207.11.

SPS Commerce Trading Down 0.2 %

NASDAQ:SPSC traded down $0.30 during trading hours on Tuesday, hitting $128.61. 286,519 shares of the company traded hands, compared to its average volume of 207,071. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 63.04 and a beta of 0.92. The firm has a 50-day moving average of $162.61 and a 200 day moving average of $179.53. SPS Commerce, Inc. has a twelve month low of $122.58 and a twelve month high of $218.61.

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

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, EVP Dan Juckniess sold 9,819 shares of SPS Commerce stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total transaction of $1,813,176.54. Following the sale, the executive vice president now directly owns 22,570 shares of the company's stock, valued at approximately $4,167,776.20. The trade was a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of SPS Commerce stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $181.09, for a total value of $1,682,326.10. Following the sale, the chief financial officer now directly owns 147,002 shares in the company, valued at $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. Over the last ninety days, insiders have sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is currently owned by corporate insiders.

SPS Commerce 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.