SPS Commerce, Inc. $SPSC Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in SPS Commerce by 0.4%, selling 19,008 shares and ending the quarter with 4,925,441 shares — roughly 13.06% of the company worth about $439 million.
• Insiders have been net sellers recently: CEO Chadwick Collins sold 13,384 shares (a 15.63% reduction in his position) and insiders disposed of 24,102 shares valued at $1.43 million over the past 90 days.
• Analyst sentiment has cooled with multiple price-target cuts and a consensus rating of "Hold" (consensus target $76.45), despite a modest EPS beat for the latest quarter and FY2026 guidance provided.

Vanguard Group Inc. lowered its holdings in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,925,441 shares of the software maker's stock after selling 19,008 shares during the period. Vanguard Group Inc. owned about 13.06% of SPS Commerce worth $439,005,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its holdings 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 purchasing an additional 112 shares during the last quarter. AQR Capital Management LLC increased its position in SPS Commerce by 2.0% in the first quarter. AQR Capital Management LLC now owns 14,134 shares of the software maker's stock worth $1,876,000 after buying an additional 275 shares during the period. NewEdge Advisors LLC lifted its stake in SPS Commerce by 545.7% in the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker's stock valued at $30,000 after buying an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in SPS Commerce by 137.7% in the second quarter. EverSource Wealth Advisors LLC now owns 649 shares of the software maker's stock valued at $88,000 after buying an additional 376 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of SPS Commerce by 83.2% during the second quarter. First Trust Advisors LP now owns 10,132 shares of the software maker's stock valued at $1,379,000 after acquiring an additional 4,602 shares during the period. 98.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPSC has been the subject of several recent research reports. Craig Hallum lowered shares of SPS Commerce from a "buy" rating to a "hold" rating and set a $70.00 price target for the company. in a research report on Friday, February 13th. Needham & Company LLC reduced their target price on shares of SPS Commerce from $110.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Citigroup decreased their target price on shares of SPS Commerce from $84.00 to $76.00 and set a "buy" rating for the company in a research report on Monday. Cantor Fitzgerald set a $60.00 price target on shares of SPS Commerce and gave the company a "neutral" rating in a research note on Friday. Finally, Stifel Nicolaus set a $60.00 price target on SPS Commerce in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.45.

Insiders Place Their Bets

In other news, CEO Chadwick Collins sold 13,384 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $58.66, for a total transaction of $785,105.44. Following the completion of the sale, the chief executive officer directly owned 72,241 shares of the company's stock, valued at $4,237,657.06. This trade represents a 15.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marty M. Reaume sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $57.90, for a total value of $57,900.00. Following the completion of the sale, the director directly owned 9,158 shares of the company's stock, valued at approximately $530,248.20. The trade was a 9.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 24,102 shares of company stock valued at $1,425,328 over the last ninety days. Corporate insiders own 0.58% of the company's stock.

SPS Commerce Price Performance

Shares of NASDAQ:SPSC opened at $58.40 on Wednesday. SPS Commerce, Inc. has a 12 month low of $50.55 and a 12 month high of $153.16. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 24.33 and a beta of 0.58. The stock's 50 day moving average price is $57.18 and its 200 day moving average price is $76.40.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The software maker reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $192.12 million during the quarter, compared to analyst estimates of $192.51 million. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The company's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. 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, sell-side analysts expect that SPS Commerce, Inc. will post 3.34 EPS for the current year.

SPS Commerce Company 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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