452,066 Shares in SPS Commerce, Inc. $SPSC Acquired by Irenic Capital Management LP

Irenic Capital Management LP bought a new position in SPS Commerce, Inc. (NASDAQ:SPSC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 452,066 shares of the software maker’s stock, valued at approximately $40,293,000. SPS Commerce comprises approximately 2.7% of Irenic Capital Management LP’s portfolio, making the stock its 9th largest position.

Several other hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC boosted its position in shares of SPS Commerce by 54.7% in the fourth quarter. Janus Henderson Group PLC now owns 156,453 shares of the software maker’s stock worth $13,949,000 after acquiring an additional 55,342 shares during the last quarter. EVR Research LP acquired a new position in SPS Commerce in the fourth quarter valued at $3,565,000. American Capital Management Inc. boosted its holdings in SPS Commerce by 8.2% in the fourth quarter. American Capital Management Inc. now owns 306,786 shares of the software maker’s stock valued at $27,344,000 after acquiring an additional 23,311 shares during the last quarter. AQR Capital Management LLC boosted its holdings in SPS Commerce by 151.7% in the fourth quarter. AQR Capital Management LLC now owns 56,868 shares of the software maker’s stock valued at $5,069,000 after acquiring an additional 34,274 shares during the last quarter. Finally, Westerly Capital Management LLC acquired a new position in SPS Commerce in the fourth quarter valued at $2,674,000. 98.96% of the stock is owned by institutional investors and hedge funds.

SPS Commerce Price Performance

SPSC opened at $52.84 on Thursday. The stock has a market capitalization of $1.94 billion, a PE ratio of 22.02 and a beta of 0.57. The firm’s fifty day moving average price is $54.80 and its 200 day moving average price is $68.35. SPS Commerce, Inc. has a 12-month low of $49.04 and a 12-month high of $143.55.

SPS Commerce (NASDAQ:SPSC) last announced its quarterly earnings data on Thursday, April 30th. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The firm had revenue of $192.12 million for the quarter, compared to analysts’ expectations of $192.51 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. SPS Commerce’s revenue for the quarter was up 5.8% compared to the same quarter last year. SPS Commerce has set its FY 2026 guidance at 4.730-4.760 EPS and its Q2 2026 guidance at 1.060-1.090 EPS. On average, equities research analysts forecast that SPS Commerce, Inc. will post 3.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SPSC shares. Stifel Nicolaus set a $60.00 target price on SPS Commerce in a report on Friday, May 1st. Citigroup reduced their price target on shares of SPS Commerce from $84.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Rothschild & Co Redburn set a $60.00 price target on shares of SPS Commerce and gave the company a “neutral” rating in a research report on Thursday, April 16th. Weiss Ratings cut shares of SPS Commerce from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald set a $60.00 price target on shares of SPS Commerce and gave the company a “neutral” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.45.

Insider Buying and Selling at SPS Commerce

In other SPS Commerce news, Director Marty M. Reaume sold 1,000 shares of the stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $57.90, for a total transaction of $57,900.00. Following the sale, the director directly owned 9,158 shares of the company’s stock, valued at approximately $530,248.20. This represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.58% of the company’s stock.

About SPS Commerce

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company’s platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.