Bank of America Corp DE Has $21.64 Million Stock Holdings in SPS Commerce, Inc. $SPSC

Key Points

• Bank of America cut its SPS Commerce stake by 62.1% in the second quarter, selling 620,035 shares and retaining 378,587 shares valued at approximately $21.64 million. Institutional investors and hedge funds collectively own 98.96% of the company.
• Analyst sentiment is mixed: SPS Commerce has an average “Hold” rating and a consensus price target of $77.10, while individual targets range from $65 to $100.
• SPS Commerce exceeded quarterly expectations, reporting $1.27 in EPS versus a $1.09 consensus estimate and $197.81 million in revenue. Shares opened at $81.29, with the stock up substantially from its 200-day moving average of $63.40.

Bank of America Corp DE decreased its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 62.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 378,587 shares of the software maker's stock after selling 620,035 shares during the quarter. Bank of America Corp DE owned approximately 1.05% of SPS Commerce worth $21,644,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in SPS Commerce during the second quarter valued at $339,259,000. Jupiter Topco LLC purchased a new stake in shares of SPS Commerce during the 2nd quarter worth about $56,260,000. Norges Bank purchased a new stake in shares of SPS Commerce during the 4th quarter worth about $49,883,000. Irenic Capital Management LP acquired a new stake in shares of SPS Commerce during the 4th quarter valued at about $40,293,000. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of SPS Commerce by 9.9% during the 1st quarter. Van Berkom & Associates Inc. now owns 678,236 shares of the software maker's stock valued at $37,757,000 after buying an additional 61,350 shares during the last quarter. Institutional investors and hedge funds own 98.96% of the company's stock.

Analysts Set New Price Targets

SPSC has been the topic of a number of research reports. DA Davidson set a $65.00 price objective on SPS Commerce in a report on Friday, July 31st. Zacks Research upgraded shares of SPS Commerce from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen downgraded shares of SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Needham & Company LLC restated a "buy" rating and set a $100.00 price target (up from $75.00) on shares of SPS Commerce in a research note on Wednesday, August 19th. Finally, Citigroup restated a "buy" rating and set a $82.00 price target (up from $76.00) on shares of SPS Commerce in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, SPS Commerce presently has an average rating of "Hold" and an average target price of $77.10.

SPS Commerce Trading Down 0.2%

Shares of SPS Commerce stock opened at $81.29 on Thursday. The firm has a fifty day simple moving average of $76.20 and a 200-day simple moving average of $63.40. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 39.27 and a beta of 0.51. SPS Commerce, Inc. has a 1-year low of $49.04 and a 1-year high of $114.87.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its earnings results on Thursday, July 30th. The software maker reported $1.27 EPS for the quarter, topping the consensus estimate of $1.09 by $0.18. The firm had revenue of $197.81 million for the quarter, compared to the consensus estimate of $195.46 million. SPS Commerce had a net margin of 10.10% and a return on equity of 13.04%. The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. SPS Commerce has set its Q3 2026 guidance at 1.200-1.230 EPS and its FY 2026 guidance at 4.840-4.930 EPS. As a group, research analysts predict that SPS Commerce, Inc. will post 3.56 earnings per share for the current year.

About SPS Commerce

SPS Commerce, Inc provides cloud-based supply chain management solutions that help retailers, suppliers, distributors and other trading partners manage commerce operations. Its platform is designed to connect businesses and automate the exchange of critical information across supply chain and retail processes.

The company's products and services support functions including electronic data interchange, order management, inventory and product information management, fulfillment, invoicing, analytics and supplier onboarding.

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