Irenic Capital Management LP Grows Holdings in SPS Commerce, Inc. $SPSC

Irenic Capital Management LP lifted its position in shares of SPS Commerce, Inc. (NASDAQ:SPSC) by 32.2% during the 1st quarter, HoldingsChannel reports. The fund owned 597,704 shares of the software maker’s stock after purchasing an additional 145,638 shares during the period. SPS Commerce accounts for 2.2% of Irenic Capital Management LP’s portfolio, making the stock its 14th biggest position. Irenic Capital Management LP’s holdings in SPS Commerce were worth $33,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in shares of SPS Commerce by 545.7% in the 1st quarter. NewEdge Advisors LLC now owns 226 shares of the software maker’s stock valued at $30,000 after purchasing an additional 191 shares in the last quarter. Advisory Services Network LLC purchased a new position in SPS Commerce during the third quarter worth approximately $32,000. Global Retirement Partners LLC boosted its position in SPS Commerce by 2,130.0% during the fourth quarter. Global Retirement Partners LLC now owns 446 shares of the software maker’s stock worth $40,000 after purchasing an additional 426 shares in the last quarter. Summit Securities Group LLC acquired a new stake in SPS Commerce in the fourth quarter valued at approximately $45,000. Finally, Leonteq Securities AG purchased a new stake in shares of SPS Commerce in the fourth quarter valued at approximately $52,000. 98.96% of the stock is currently owned by institutional investors and hedge funds.

SPS Commerce Price Performance

SPSC opened at $68.50 on Wednesday. The company’s 50 day simple moving average is $57.97 and its two-hundred day simple moving average is $62.64. SPS Commerce, Inc. has a 1-year low of $49.04 and a 1-year high of $141.98. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 28.54 and a beta of 0.56.

SPS Commerce (NASDAQ:SPSC) last issued its earnings results on Thursday, April 30th. The software maker reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.13. The business had revenue of $192.12 million for the quarter, compared to analysts’ expectations of $192.50 million. SPS Commerce had a return on equity of 12.43% and a net margin of 11.92%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. 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, equities analysts anticipate that SPS Commerce, Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SPSC. Rothschild & Co Redburn set a $60.00 target price on SPS Commerce and gave the stock a “neutral” rating in a research note on Thursday, April 16th. DA Davidson set a $55.00 price objective on shares of SPS Commerce and gave the company a “neutral” rating in a report on Wednesday, July 1st. Stifel Nicolaus set a $60.00 price target on shares of SPS Commerce in a research report on Friday, May 1st. Morgan Stanley lowered shares of SPS Commerce from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $70.00 to $57.00 in a research note on Tuesday, July 21st. Finally, Zacks Research raised SPS Commerce from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.82.

About SPS Commerce

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.