SPS Commerce Inc (SPSC) shareholders
SPSCNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 16/3029% below fair value
$81.30−0.95 (-1.16%)
Close on Nov 13, 2026Market cap $2.88BP/E 36.1Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
39M of 35M shares
Institutional holders
318
61 new, 66 sold out
Net institutional buying
-0M
In Q2 2026
Insider trades, 12 months
0 buys · 16 sales
Net sold $3.01M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 5,580,468 | 14.70% | 13G (passive) amendment | Sep 30, 2025 |
| Vanguard Portfolio Management | 2,995,571 | 8.01% | 13G (passive) | Mar 31, 2026 |
| Disciplined Growth Investors Inc /Mn | 2,123,881 | 5.90% | 13G (passive) | Jun 30, 2026 |
| Vanguard Capital Management | 1,984,586 | 5.30% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of SPSC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 5,934,211 | 16.74% | $339.26M | +105,575 | 0.01% |
| Vanguard Portfolio Management LLC | 2,914,709 | 8.22% | $166.63M | −44,130 | 0.01% |
| Disciplined Growth Investors Inc /Mn | 2,123,881 | 5.99% | $121.42M | +1,312,943 | 2.06% |
| Neuberger Berman Group LLC | 1,780,876 | 5.02% | $101.81M | −9,422 | 0.07% |
| Vanguard Capital Management LLC | 1,598,383 | 4.51% | $91.38M | −99,740 | 0.00% |
| State Street Corp | 1,545,696 | 4.36% | $88.37M | +45,886 | 0.00% |
| Geode Capital Management, LLC | 1,266,247 | 3.57% | $72.40M | +268,288 | 0.00% |
| Goldman Sachs Group Inc | 1,107,434 | 3.12% | $63.31M | +38,218 | 0.01% |
| Morgan Stanley | 997,970 | 2.82% | $57.05M | +37,090 | 0.00% |
| Jupiter Topco LLC | 984,427 | 2.78% | $56.26M | New | 0.02% |
| Engine Capital Management, LP | 916,380 | 2.59% | $52.39M | New | 5.10% |
| Citadel Advisors LLC | 913,868 | 2.58% | $52.25M | +628 | 0.01% |
| Federated Hermes, Inc. | 901,632 | 2.54% | $51.55M | +162,683 | 0.07% |
| Invenomic Capital Management LP | 869,410 | 2.45% | $49.70M | +605,315 | 2.97% |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 760,700 | 2.15% | $43.49M | +50,362 | 0.04% |
| Anson Funds Management LP | 745,000 | 2.10% | $42.59M | −405,000 | 2.53% |
| Van Berkom & Associates Inc. | 630,329 | 1.78% | $36.04M | −726,143 | 1.16% |
| Lightrock Netherlands B.V. | 613,169 | 1.73% | $35.05M | +171,500 | 6.92% |
| Irenic Capital Management LP | 597,704 | 1.69% | $34.17M | – | 1.64% |
| Charles Schwab Investment Management Inc | 542,524 | 1.53% | $31.02M | +41,713 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 318 | 39M | 100.0% | 61 / 115 | 111 / 66 | 7M | 7M |
| Q1 2026 | 329 | 39M | 100.0% | 58 / 132 | 97 / 89 | 13M | 7M |
| Q4 2025 | 367 | 38M | 100.0% | 64 / 119 | 149 / 94 | 6M | 7M |
| Q3 2025 | 403 | 39M | 100.0% | 45 / 155 | 160 / 87 | 6M | 5M |
| Q2 2025 | 452 | 38M | 100.0% | 58 / 181 | 153 / 49 | 4M | 3M |
| Q1 2025 | 448 | 38M | 100.0% | 65 / 173 | 160 / 72 | 4M | 3M |
| Q4 2024 | 460 | 38M | 100.0% | 56 / 177 | 178 / 50 | 3M | 3M |
| Q3 2024 | 461 | 37M | 100.0% | 49 / 177 | 175 / 32 | 8M | 2M |
| Q2 2024 | 449 | 37M | 100.0% | 60 / 191 | 145 / 31 | 2M | 3M |
| Q1 2024 | 422 | 38M | 100.0% | 63 / 161 | 148 / 38 | 2M | 2M |
| Q4 2023 | 402 | 38M | 100.0% | 48 / 135 | 173 / 19 | 2M | 1M |
| Q3 2023 | 379 | 37M | 100.0% | 32 / 144 | 159 / 26 | 2M | 2M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
283 funds held SPSC in Q2 2026, 64% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of SPSC | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 2,212,295 | 6.24% | $126.48M | 0.11% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 1,110,021 | 3.13% | $63.46M | 0.00% | Jun 30, 2026 |
| Neuberger Genesis Fund | 1,016,285 | 2.87% | $57.67M | 0.78% | May 31, 2026 |
| iShares Russell 2000 ETF | 974,015 | 2.75% | $55.68M | 0.07% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 955,001 | 2.69% | $54.20M | 0.03% | May 31, 2026 |
| Vanguard Small-Cap Index Fund | 799,329 | 2.26% | $45.70M | 0.02% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 458,806 | 1.29% | $26.23M | 0.06% | Jun 30, 2026 |
| Federated Hermes MDT Small Cap Core Fund | 439,499 | 1.24% | $32.25M | 1.44% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 421,319 | 1.19% | $24.09M | 0.02% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 407,968 | 1.15% | $29.94M | 0.09% | Jul 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 337,595 | 0.95% | $19.30M | 0.11% | Jun 30, 2026 |
| Invenomic Fund | 273,074 | 0.77% | $20.04M | 2.34% | Jul 31, 2026 |
| Nomura Small Cap Core Fund | 259,359 | 0.73% | $14.72M | 0.27% | May 29, 2026 |
| Vanguard Tax-Managed Small-Cap Fund | 257,583 | 0.73% | $14.73M | 0.13% | Jun 30, 2026 |
| iShares Russell 2000 Growth ETF | 205,117 | 0.58% | $11.73M | 0.08% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Chadwick Collins | Chief Executive Officer, Director | 77,914 | 0.22% | Feb 24, 2026 |
| Jamie Thingelstad | EVP, Chief Technology Officer | 96,298 | 0.27% | Nov 10, 2026 |
| Preto Joseph Del | EXECUTIVE VP AND CFO | 141,707 | 0.40% | May 11, 2026 |
| Kimberly K. Nelson | EVP & CFO | 148,528 | 0.42% | Feb 24, 2026 |
| Eduardo Rosini | EVP, Chief Commercial Officer | 109,870 | 0.31% | Feb 24, 2026 |
| Dan Juckniess | EVP, Chief Sales Officer | 32,151 | 0.09% | Jun 27, 2025 |
| Marty M. Reaume | Director | 12,894 | 0.04% | Nov 5, 2026 |
| Philip Soran | Director | 25,913 | 0.07% | Jun 1, 2026 |
| Anne Sempowski Ward | Director | 7,870 | 0.02% | Jun 1, 2026 |
| Fumbi F. Chima | Director | 7,187 | 0.02% | Jun 1, 2026 |
| Michael J. McConnell | Director | 7,187 | 0.02% | Jun 1, 2026 |
| Mark Partin | Director | 6,221 | 0.02% | Jun 1, 2026 |
| Tami Reller | Director | 54,908 | 0.15% | Jun 1, 2026 |
| Razat Gaurav | Director | 5,046 | 0.01% | Jun 1, 2026 |
| Sven Wehrwein | Director | 17,522 | 0.05% | May 15, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Jamie Thingelstad EVP, Chief Technology Officer | Nov 6, 2026 | Sale | −11,196 | $81.59 | $913.50K | 95,777 |
| Jamie Thingelstad EVP, Chief Technology Officer | Nov 6, 2026 | Option exercise | +11,196 | $56.25 | $629.78K | 106,973 |
| Marty M. Reaume Director | Nov 3, 2026 | Sale | −4,536 | $86.86 | $393.98K | 12,894 |
| Marty M. Reaume Director | Nov 3, 2026 | Option exercise | +4,536 | $59.00 | $267.62K | 17,430 |
| Fumbi F. Chima Director | May 28, 2026 | Award | +3,736 | – | – | 7,187 |
| Anne Sempowski Ward Director | May 28, 2026 | Award | +3,736 | – | – | 7,870 |
| Razat Gaurav Director | May 28, 2026 | Award | +3,736 | – | – | 5,046 |
| Tami Reller Director | May 28, 2026 | Award | +3,736 | – | – | 54,908 |
| Mark Partin Director | May 28, 2026 | Award | +3,736 | – | – | 6,221 |
| Marty M. Reaume Director | May 28, 2026 | Award | +3,736 | – | – | 12,894 |
| Philip Soran Director | May 28, 2026 | Award | +3,736 | – | – | 25,913 |
| Michael J. McConnell Director | May 28, 2026 | Award | +3,736 | – | – | 7,187 |
| Jamie Thingelstad EVP, Chief Technology Officer | May 8, 2026 | Award | +39,433 | – | – | 95,777 |
| Marty M. Reaume Director | May 7, 2026 | Sale(10b5-1 plan) | −1,000 | $57.03 | $57.03K | 9,158 |
| Marty M. Reaume Director | May 7, 2026 | Option exercise | +1,000 | $51.80 | $51.80K | 10,158 |
| Preto Joseph Del EXECUTIVE VP AND CFO | May 7, 2026 | Award | +33,240 | – | – | 141,707 |
| Preto Joseph Del EXECUTIVE VP AND CFO | May 7, 2026 | Award | +108,467 | – | – | 108,467 |
| Marty M. Reaume Director | Apr 7, 2026 | Sale(10b5-1 plan) | −1,000 | $57.90 | $57.90K | 9,158 |
| Marty M. Reaume Director | Apr 7, 2026 | Option exercise | +1,000 | $51.80 | $51.80K | 10,158 |
| Tami Reller Director | Mar 13, 2026 | Option exercise | +5,732 | $51.80 | $296.92K | 51,172 |
| Marty M. Reaume Director | Mar 9, 2026 | Option exercise | +1,000 | $51.80 | $51.80K | 10,158 |
| Marty M. Reaume Director | Mar 9, 2026 | Sale(10b5-1 plan) | −1,000 | $62.73 | $62.73K | 9,158 |
| Jamie Thingelstad EVP, Chief Technology Officer | Feb 24, 2026 | Sale(10b5-1 plan) | −518 | $55.47 | $28.73K | 56,344 |
| Jamie Thingelstad EVP, Chief Technology Officer | Feb 24, 2026 | Sale(10b5-1 plan) | −1,900 | $54.80 | $104.12K | 56,862 |
| Kimberly K. Nelson EVP & CFO | Feb 20, 2026 | Sale(10b5-1 plan) | −3,700 | $58.09 | $214.93K | 148,052 |
| Kimberly K. Nelson EVP & CFO | Feb 20, 2026 | Sale(10b5-1 plan) | −1,200 | $59.19 | $71.03K | 146,852 |
| Kimberly K. Nelson EVP & CFO | Feb 20, 2026 | Sale(10b5-1 plan) | −1,400 | $59.70 | $83.58K | 145,452 |
| Kimberly K. Nelson EVP & CFO | Feb 20, 2026 | Award | +39,689 | – | – | 185,141 |
| Fumbi F. Chima Director | Feb 20, 2026 | Award | +3,451 | – | – | 3,451 |
| Chadwick Collins Chief Executive Officer, Director | Feb 20, 2026 | Sale(10b5-1 plan) | −7,776 | $58.09 | $451.71K | 77,849 |
| Chadwick Collins Chief Executive Officer, Director | Feb 20, 2026 | Award | +101,932 | – | – | 174,173 |
| Chadwick Collins Chief Executive Officer, Director | Feb 20, 2026 | Sale(10b5-1 plan) | −2,806 | $59.18 | $166.06K | 75,043 |
| Chadwick Collins Chief Executive Officer, Director | Feb 20, 2026 | Sale(10b5-1 plan) | −2,802 | $59.72 | $167.34K | 72,241 |
| Eduardo Rosini EVP, Chief Commercial Officer | Feb 20, 2026 | Award | +29,335 | – | – | 109,860 |
| Jamie Thingelstad EVP, Chief Technology Officer | Feb 20, 2026 | Award | +23,295 | – | – | 58,762 |
| Michael J. McConnell Director | Feb 20, 2026 | Award | +3,451 | – | – | 3,451 |
| Marty M. Reaume Director | Feb 9, 2026 | Sale(10b5-1 plan) | −1,000 | $79.92 | $79.92K | 9,158 |
| Marty M. Reaume Director | Feb 9, 2026 | Option exercise | +1,000 | $51.80 | $51.80K | 10,158 |
| Marty M. Reaume Director | Jan 7, 2026 | Sale(10b5-1 plan) | −400 | $91.40 | $36.56K | 10,490 |
| Marty M. Reaume Director | Jan 7, 2026 | Option exercise | +1,732 | $51.80 | $89.72K | 10,890 |
| Marty M. Reaume Director | Jan 7, 2026 | Sale(10b5-1 plan) | −1,332 | $92.52 | $123.24K | 9,158 |
| Eduardo Rosini EVP, Chief Commercial Officer | Dec 1, 2025 | Award | +80,525 | – | – | 80,525 |
| Philip Soran Director | Nov 18, 2025 | Tax withholding | −3,717 | $79.89 | $296.95K | 22,177 |
| Philip Soran Director | Nov 18, 2025 | Option exercise | +5,732 | $51.80 | $296.92K | 25,894 |
| Mark Partin Director | Nov 6, 2025 | Award | +2,485 | – | – | 2,485 |
| Jamie Thingelstad EVP, Chief Technology Officer | Nov 4, 2025 | Tax withholding | −6,621 | $82.53 | $546.43K | 35,467 |
| Jamie Thingelstad EVP, Chief Technology Officer | Nov 4, 2025 | Option exercise | +8,118 | $54.54 | $442.76K | 42,088 |
| Anne Sempowski Ward Director | May 13, 2025 | Award | +1,310 | – | – | 4,134 |
| Philip Soran Director | May 13, 2025 | Award | +1,310 | – | – | 20,162 |
| Sven Wehrwein Director | May 13, 2025 | Award | +1,310 | – | – | 17,522 |
| Razat Gaurav Director | May 13, 2025 | Award | +1,310 | – | – | 1,310 |
| Marty M. Reaume Director | May 13, 2025 | Award | +1,310 | – | – | 9,158 |
| Tami Reller Director | May 13, 2025 | Award | +1,310 | – | – | 45,440 |
| Tami Reller Director | Mar 26, 2025 | Option exercise | +6,570 | $37.22 | $244.54K | 44,130 |
| Kimberly K. Nelson EVP & CFO | Feb 26, 2025 | Sale(10b5-1 plan) | −495 | $137.03 | $67.83K | 154,101 |
| Kimberly K. Nelson EVP & CFO | Feb 26, 2025 | Sale(10b5-1 plan) | −1,254 | $139.34 | $174.73K | 151,752 |
| Kimberly K. Nelson EVP & CFO | Feb 26, 2025 | Sale(10b5-1 plan) | −2,646 | $136.29 | $360.62K | 154,596 |
| Kimberly K. Nelson EVP & CFO | Feb 26, 2025 | Sale(10b5-1 plan) | −1,095 | $138.33 | $151.47K | 153,006 |
| Jamie Thingelstad EVP, Chief Technology Officer | Feb 20, 2025 | Sale(10b5-1 plan) | −555 | $143.99 | $79.91K | 1,724,922 |
| Jamie Thingelstad EVP, Chief Technology Officer | Feb 20, 2025 | Sale(10b5-1 plan) | −185 | $145.20 | $26.86K | 1,724,737 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
7.11%
2M shares short
Days to cover
4.8
At 1M shares a day
Change since last report
-13.8%
From 3M shares
Short volume, 20 days
49.8%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of SPS Commerce's stock actually held short. Settlement fails (shares not delivered on time) peaked at 97,849 shares on Sep 15, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Jamie Thingelstad Officer | Nov 6, 2026 | 11,196 | $913.50K | Nov 6, 2026 | Exercise of Options Under a Registered Plan |
| Marty M. Reaume Director | Nov 3, 2026 | 4,536 | $393.98K | Nov 3, 2026 | Exercise of Options Under a Registered Plan |
| Kimberly K. Nelson Officer | Jun 2, 2026 | 32,808 | $1.96M | Jun 2, 2026 | Restricted Stock Units |
| Martha Reaume Director | May 7, 2026 | 1,000 | $55.87K | May 7, 2026 | Exercise of Stock Options |
| Martha Reaume Director | Apr 7, 2026 | 1,000 | $58.16K | Apr 7, 2026 | Exercise of Stock Options |
| Martha Reaume Director | Mar 9, 2026 | 1,000 | $63.72K | Mar 9, 2026 | Exercise of Stock Options |
| Jamie Thingelstad Officer | Feb 24, 2026 | 2,418 | $131.10K | Feb 24, 2026 | Restricted Stock Units |
| Kimberly K. Nelson Officer | Feb 20, 2026 | 6,300 | $367.61K | Feb 20, 2026 | Restricted Stock Units |
| Chadwick Collins Director, Officer | Feb 20, 2026 | 13,384 | $780.96K | Feb 20, 2026 | Restricted Stock Units |
| Martha Reaume Director | Feb 9, 2026 | 1,000 | $79.53K | Feb 9, 2026 | Exercise of Stock Options |
| Martha Reaume Director | Jan 7, 2026 | 1,732 | $158.43K | Jan 7, 2026 | Exercise of Stock Options |
| James Burr Ramsey Former director | Jul 21, 2025 | 15,380 | $2.11M | Jul 21, 2025 | Exercise of options under a registered plan |
| Kimberly K. Nelson Officer | Feb 26, 2025 | 5,490 | $759.98K | Feb 26, 2025 | Restricted Stock Units |
| Chadwick Collins Director, Officer | Feb 20, 2025 | 1,672 | $245.25K | Feb 20, 2025 | Restricted Stock Units |
| Daniel Juckniess Officer | Feb 20, 2025 | 735 | $107.81K | Feb 20, 2025 | Restricted Stock Units |
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