Brown Capital Management LLC Sells 34,154 Shares of SPS Commerce, Inc. $SPSC

Key Points

• Brown Capital Management cut its SPS Commerce stake by 47.2% in the second quarter, selling 34,154 shares and retaining 38,208 shares worth approximately $2.18 million.
• Institutional investors own 98.96% of SPS Commerce, while analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and an average price target of $74.60.
• SPS Commerce beat quarterly expectations with $1.27 in adjusted EPS versus $1.09 expected and revenue of $197.81 million, up 5.6% year over year. Shares opened at $79.37, up 3.9%.

Brown Capital Management LLC reduced its stake in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 47.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,208 shares of the software maker's stock after selling 34,154 shares during the quarter. Brown Capital Management LLC owned approximately 0.10% of SPS Commerce worth $2,184,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of SPS Commerce by 39.9% in the 1st quarter. Advisors Asset Management Inc. now owns 393 shares of the software maker's stock worth $52,000 after acquiring an additional 112 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of SPS Commerce by 0.6% in the fourth quarter. State of Alaska Department of Revenue now owns 20,986 shares of the software maker's stock valued at $1,870,000 after purchasing an additional 126 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of SPS Commerce by 7.1% during the fourth quarter. Evergreen Capital Management LLC now owns 2,337 shares of the software maker's stock valued at $208,000 after purchasing an additional 155 shares in the last quarter. State of Wyoming lifted its position in shares of SPS Commerce by 10.8% during the fourth quarter. State of Wyoming now owns 1,792 shares of the software maker's stock valued at $160,000 after purchasing an additional 174 shares in the last quarter. Finally, State of Tennessee Department of Treasury boosted its holdings in SPS Commerce by 1.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 17,442 shares of the software maker's stock worth $1,557,000 after purchasing an additional 175 shares during the last quarter. 98.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SPSC. Rothschild & Co Redburn set a $60.00 price objective on shares of SPS Commerce and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Needham & Company LLC restated a "buy" rating on shares of SPS Commerce in a research note on Tuesday, July 28th. DA Davidson set a $65.00 target price on SPS Commerce in a report on Friday, July 31st. Wall Street Zen lowered SPS Commerce from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $70.00 price target (up from $60.00) on shares of SPS Commerce in a research report on Friday, July 31st. One research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, SPS Commerce has an average rating of "Hold" and a consensus target price of $74.60.

SPS Commerce Stock Up 3.9%

Shares of SPSC stock opened at $79.37 on Friday. The company has a 50 day moving average of $62.39 and a 200-day moving average of $61.09. SPS Commerce, Inc. has a 12-month low of $49.04 and a 12-month high of $117.37. The firm has a market cap of $2.86 billion, a P/E ratio of 38.34 and a beta of 0.53.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The software maker reported $1.27 EPS for the quarter, beating the consensus estimate of $1.09 by $0.18. SPS Commerce had a return on equity of 13.04% and a net margin of 10.10%.The business had revenue of $197.81 million for the quarter, compared to the consensus estimate of $195.46 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. SPS Commerce's revenue for the quarter was up 5.6% on a year-over-year basis. 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, equities analysts expect that SPS Commerce, Inc. will post 3.56 EPS for the current year.

SPS Commerce Profile

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.

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