Proficio Capital Partners LLC Purchases Shares of 76,540 SPS Commerce, Inc. (NASDAQ:SPSC)

Proficio Capital Partners LLC purchased a new position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 76,540 shares of the software maker’s stock, valued at approximately $14,083,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in SPS Commerce by 94.5% during the third quarter. Franklin Resources Inc. now owns 432,801 shares of the software maker’s stock worth $84,747,000 after purchasing an additional 210,284 shares during the last quarter. FMR LLC raised its holdings in SPS Commerce by 18.3% during the third quarter. FMR LLC now owns 677,145 shares of the software maker’s stock worth $131,481,000 after purchasing an additional 104,769 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SPS Commerce by 69.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 254,439 shares of the software maker’s stock worth $49,404,000 after buying an additional 104,210 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of SPS Commerce in the 3rd quarter valued at $17,128,000. Finally, Assenagon Asset Management S.A. grew its position in shares of SPS Commerce by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 186,344 shares of the software maker’s stock valued at $34,285,000 after buying an additional 69,029 shares during the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SPSC shares. Needham & Company LLC reduced their price target on shares of SPS Commerce from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird decreased their target price 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. Piper Sandler dropped their price target on SPS Commerce from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. 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. Finally, Citigroup lowered their target price on shares of SPS Commerce from $237.00 to $233.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.11.

Insiders Place Their Bets

In other SPS Commerce news, CFO Kimberly K. Nelson sold 9,290 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $184.68, for a total value of $1,715,677.20. Following the completion of the sale, the chief financial officer now owns 156,292 shares of the company’s stock, valued at approximately $28,864,006.56. This trade represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Juckniess sold 5,831 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $200.31, for a total transaction of $1,168,007.61. Following the transaction, the executive vice president now directly owns 23,833 shares in the company, valued at approximately $4,773,988.23. This trade represents a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,695 shares of company stock worth $7,781,086. Company insiders own 1.00% of the company’s stock.

SPS Commerce Price Performance

Shares of NASDAQ SPSC opened at $133.20 on Friday. The stock has a fifty day moving average price of $174.04 and a 200 day moving average price of $184.43. SPS Commerce, Inc. has a 1-year low of $131.31 and a 1-year high of $218.61. The company has a market cap of $5.03 billion, a PE ratio of 65.29 and a beta of 0.88.

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