Proficio Capital Partners LLC Decreases Holdings in SPS Commerce, Inc. (NASDAQ:SPSC)

Proficio Capital Partners LLC reduced its position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 90.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,513 shares of the software maker's stock after selling 69,027 shares during the period. Proficio Capital Partners LLC's holdings in SPS Commerce were worth $997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SPSC. Bank of New York Mellon Corp grew its position in SPS Commerce by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 331,432 shares of the software maker's stock worth $43,991,000 after purchasing an additional 34,859 shares during the period. KBC Group NV grew its position in SPS Commerce by 8.1% in the 1st quarter. KBC Group NV now owns 1,651 shares of the software maker's stock worth $219,000 after purchasing an additional 124 shares during the period. SG Americas Securities LLC bought a new stake in SPS Commerce in the 1st quarter worth approximately $1,045,000. Vanguard Group Inc. grew its position in SPS Commerce by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,630,859 shares of the software maker's stock worth $852,032,000 after purchasing an additional 67,687 shares during the period. Finally, First Trust Advisors LP grew its position in SPS Commerce by 202.0% in the 4th quarter. First Trust Advisors LP now owns 5,683 shares of the software maker's stock worth $1,046,000 after purchasing an additional 3,801 shares during the period. 98.96% of the stock is currently owned by hedge funds and other institutional investors.

SPS Commerce Stock Down 1.8%

SPSC stock traded down $2.47 during mid-day trading on Thursday, hitting $137.79. The company had a trading volume of 268,431 shares, compared to its average volume of 325,862. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 64.39 and a beta of 0.71. SPS Commerce, Inc. has a 12-month low of $120.08 and a 12-month high of $218.61. The company has a 50-day moving average price of $139.83 and a 200 day moving average price of $146.22.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The software maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. The business had revenue of $181.55 million for the quarter, compared to analysts' expectations of $179.57 million. SPS Commerce had a net margin of 12.13% and a return on equity of 12.37%. The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, analysts expect that SPS Commerce, Inc. will post 2.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPSC. Needham & Company LLC reissued a "buy" rating and set a $210.00 price objective on shares of SPS Commerce in a research report on Friday, April 25th. Wall Street Zen raised shares of SPS Commerce from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley began coverage on shares of SPS Commerce in a research report on Monday, July 14th. They set an "overweight" rating and a $180.00 price objective for the company. DA Davidson cut their price objective on shares of SPS Commerce from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird boosted their price objective on shares of SPS Commerce from $154.00 to $159.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $191.30.

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.