SPS Commerce, Inc. $SPSC Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its SPS Commerce stake by 62.3% in the second quarter, selling 27,543 shares and retaining 16,658 shares valued at approximately $952,000.
• Institutional ownership remains very high at 98.96%, with BlackRock, Jupiter Topco, Norges Bank and Irenic Capital among investors establishing new positions, while Walleye Capital significantly increased its stake.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $77.10. SPS Commerce recently exceeded earnings and revenue expectations, reporting $1.27 EPS and $197.81 million in quarterly revenue.

Engineers Gate Manager LP decreased its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 62.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,658 shares of the software maker's stock after selling 27,543 shares during the quarter. Engineers Gate Manager LP's holdings in SPS Commerce were worth $952,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of SPS Commerce in the second quarter worth approximately $339,259,000. Jupiter Topco LLC purchased a new position in SPS Commerce during the second quarter valued at approximately $56,260,000. Norges Bank purchased a new position in SPS Commerce during the fourth quarter valued at approximately $49,883,000. Irenic Capital Management LP purchased a new position in SPS Commerce during the fourth quarter valued at approximately $40,293,000. Finally, Walleye Capital LLC increased its stake in SPS Commerce by 1,749.1% in the 1st quarter. Walleye Capital LLC now owns 457,635 shares of the software maker's stock valued at $25,477,000 after buying an additional 432,886 shares during the period. Institutional investors own 98.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPSC. Zacks Research raised shares of SPS Commerce from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Citigroup reaffirmed a "buy" rating and set a $82.00 price target (up from $76.00) on shares of SPS Commerce in a research note on Tuesday, July 21st. Cantor Fitzgerald reiterated a "neutral" rating and set a $70.00 price target (up from $60.00) on shares of SPS Commerce in a report on Friday, July 31st. Weiss Ratings raised SPS Commerce from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective (up from $75.00) on shares of SPS Commerce in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $77.10.

SPS Commerce Stock Performance

SPSC opened at $79.74 on Friday. The business has a 50 day moving average price of $75.12 and a 200 day moving average price of $62.96. SPS Commerce, Inc. has a twelve month low of $49.04 and a twelve month high of $114.87. The firm has a market cap of $2.87 billion, a P/E ratio of 38.52 and a beta of 0.51.

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