SPS Commerce, Inc. $SPSC Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its SPS Commerce stake by 50.7% in the second quarter, selling 37,219 shares and retaining 36,253 shares valued at approximately $2.1 million. Institutional investors collectively own 98.96% of the company.
• SPS Commerce exceeded quarterly expectations, reporting $1.27 EPS versus the $1.09 consensus estimate and revenue of $197.81 million, up 5.6% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $77.10 target price. The stock opened at $80.46, while its 52-week range is $49.04 to $114.87.

Envestnet Asset Management Inc. reduced its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 50.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,253 shares of the software maker's stock after selling 37,219 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of SPS Commerce worth $2,073,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SPSC. BlackRock Inc. purchased a new position in shares of SPS Commerce during the 2nd quarter worth approximately $339,259,000. Jupiter Topco LLC acquired a new position in SPS Commerce during the second quarter worth $56,260,000. Norges Bank purchased a new position in SPS Commerce in the fourth quarter worth $49,883,000. Irenic Capital Management LP purchased a new position in SPS Commerce in the fourth quarter worth $40,293,000. Finally, Walleye Capital LLC lifted its holdings in SPS Commerce by 1,749.1% in the first quarter. Walleye Capital LLC now owns 457,635 shares of the software maker's stock valued at $25,477,000 after acquiring an additional 432,886 shares during the period. Institutional investors and hedge funds own 98.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of SPS Commerce from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. DA Davidson set a $65.00 price target on shares of SPS Commerce in a research report on Friday, July 31st. Morgan Stanley reissued an "underweight" rating and set a $59.00 price target (up from $57.00) on shares of SPS Commerce in a research note on Friday, July 31st. Cantor Fitzgerald restated a "neutral" rating and issued a $70.00 price target (up from $60.00) on shares of SPS Commerce in a report on Friday, July 31st. Finally, Weiss Ratings raised SPS Commerce from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $77.10.

SPS Commerce Stock Down 2.3%

SPSC opened at $80.46 on Tuesday. The firm has a market cap of $2.90 billion, a P/E ratio of 38.87 and a beta of 0.62. The business's fifty day simple moving average is $79.23 and its 200 day simple moving average is $64.57. SPS Commerce, Inc. has a 52 week low of $49.04 and a 52 week high of $114.87.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, July 30th. The software maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.18. SPS Commerce had a net margin of 10.10% and a return on equity of 13.04%. The company had revenue of $197.81 million for the quarter, compared to analyst estimates of $195.46 million. During the same period in the prior year, the firm earned $1.00 EPS. The firm's quarterly revenue 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 fiscal year.

SPS Commerce Profile

SPS Commerce, Inc provides cloud-based supply chain management software for retailers, suppliers, distributors and logistics providers. Its platform helps trading partners connect and exchange business documents, coordinate orders and shipments, manage product information, and improve visibility across the retail supply chain.

The company's offerings include electronic data interchange (EDI), order management, fulfillment and shipping tools, product content management, inventory visibility, analytics and retail compliance solutions.

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