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

Proficio Capital Partners LLC purchased a new stake in shares of SPS Commerce, Inc. (NASDAQ:SPSC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC increased its position in shares of SPS Commerce by 209.6% in the third quarter. Barclays PLC now owns 66,387 shares of the software maker’s stock worth $12,890,000 after purchasing an additional 44,946 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $88,576,000 after purchasing an additional 16,272 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of SPS Commerce in the third quarter worth approximately $3,178,000. Synovus Financial Corp bought a new position in shares of SPS Commerce in the third quarter worth approximately $1,809,000. Finally, JPMorgan Chase & Co. increased its position in shares of SPS Commerce by 69.4% in the third quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after purchasing an additional 104,210 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Dan Juckniess sold 9,819 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.66, for a total value of $1,813,176.54. Following the completion of the sale, the executive vice president now owns 22,570 shares of the company’s stock, valued at $4,167,776.20. This trade represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $181.09, for a total value of $1,682,326.10. Following the completion of the sale, the chief financial officer now directly owns 147,002 shares of the company’s stock, valued at $26,620,592.18. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,695 shares of company stock valued at $7,781,086. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SPSC has been the topic of several research analyst reports. Robert W. Baird decreased their price objective on shares of SPS Commerce from $188.00 to $175.00 and set a “neutral” rating on the stock in a research report 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 report on Tuesday, February 11th. Needham & Company LLC decreased their price objective on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler reduced their price target on shares of SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus reduced their price target on shares of SPS Commerce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.11.

SPS Commerce Stock Performance

NASDAQ:SPSC opened at $129.43 on Friday. The firm has a market cap of $4.89 billion, a PE ratio of 63.45 and a beta of 0.92. SPS Commerce, Inc. has a fifty-two week low of $122.58 and a fifty-two week high of $218.61. The business has a 50 day moving average price of $163.76 and a 200-day moving average price of $180.25.

SPS Commerce (NASDAQ:SPSC) last released its quarterly earnings data 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 net margin of 12.08% and a return on equity of 12.27%. Research analysts predict that SPS Commerce, Inc. will post 2.73 EPS for the current year.

About SPS Commerce

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.