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

Proficio Capital Partners LLC bought a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in SPS Commerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,444,083 shares of the software maker’s stock valued at $280,398,000 after acquiring an additional 16,357 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 14,174 shares in the last quarter. FMR LLC increased its holdings in shares of 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 purchasing an additional 104,769 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SPS Commerce by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 465,144 shares of the software maker’s stock worth $90,317,000 after buying an additional 8,186 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its stake in SPS Commerce by 0.5% during the third quarter. Geneva Capital Management LLC now owns 443,787 shares of the software maker’s stock worth $86,170,000 after buying an additional 1,994 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Trading Up 0.9 %

Shares of NASDAQ SPSC opened at $133.20 on Friday. The stock has a market capitalization of $5.03 billion, a PE ratio of 65.29 and a beta of 0.88. SPS Commerce, Inc. has a twelve month low of $131.31 and a twelve month high of $218.61. The stock has a fifty day simple moving average of $174.04 and a 200-day simple moving average of $184.43.

SPS Commerce (NASDAQ:SPSC) last released its earnings results on Monday, February 10th. The software maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.21). SPS Commerce had a net margin of 12.08% and a return on equity of 12.27%. On average, equities analysts predict that SPS Commerce, Inc. will post 2.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Chadwick Collins sold 2,840 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $148.12, for a total transaction of $420,660.80. Following the completion of the transaction, the chief executive officer now directly owns 5,270,106 shares of the company’s stock, valued at $780,608,100.72. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dan Juckniess sold 5,831 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $200.31, for a total value of $1,168,007.61. Following the completion of the sale, the executive vice president now directly owns 23,833 shares in the company, valued at $4,773,988.23. This represents a 19.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,695 shares of company stock valued at $7,781,086 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC cut their target price on 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 reaffirmed a “market perform” rating and set a $181.00 target price (down from $209.00) on shares of SPS Commerce in a research note on Tuesday, February 11th. Citigroup dropped their price target 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. 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. Finally, Robert W. Baird lowered their price objective on SPS Commerce from $188.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, SPS Commerce currently has an average rating of “Moderate Buy” and an average price target of $207.11.

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.