SPS Commerce (SPSC) reported second-quarter 2026 revenue of $197.8 million, up 6% from $187.4 million a year earlier. Net income was $6.9 million, or $0.19 per diluted share, compared with $19.7 million, or $0.52 per diluted share, in the second quarter of 2025.
The company said second-quarter adjusted EBITDA rose 19% to $66.6 million. SPS Commerce also updated full-year 2026 guidance after completing the divestiture of its 3P Revenue Recovery business on June 30, 2026.
- Second-quarter recurring revenue grew 6% from the prior-year period.
- Share repurchases totaled $51.2 million in the second quarter of 2026.
- Third-quarter 2026 revenue is expected to be $196.3 million to $198.3 million.
- Full-year 2026 revenue is expected to be $788.4 million to $793.4 million, representing 5% to 6% growth over 2025.
- The divestiture is expected to reduce second-half 2026 revenue by about $10.5 million and be neutral to adjusted EBITDA.
$SPSC Insider Trading Activity
$SPSC insiders have traded $SPSC stock on the open market 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $SPSC stock by insiders over the last 6 months:
- CHADWICK COLLINS (Chief Executive Officer) has made 0 purchases and 3 sales selling 13,384 shares for an estimated $785,128.
- KIMBERLY K. NELSON (EVP & CFO) has made 0 purchases and 3 sales selling 6,300 shares for an estimated $369,527.
- MARTY M REAUME has made 0 purchases and 3 sales selling 3,000 shares for an estimated $200,550.
- JAMIE THINGELSTAD (EVP, Chief Technology Officer) has made 0 purchases and 2 sales selling 2,418 shares for an estimated $132,851.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$SPSC Hedge Fund Activity
We have seen 163 institutional investors add shares of $SPSC stock to their portfolio, and 185 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG removed 1,196,523 shares (-92.4%) from their portfolio in Q1 2026, for an estimated $66,610,435
- NORDEA INVESTMENT MANAGEMENT AB removed 678,736 shares (-55.8%) from their portfolio in Q1 2026, for an estimated $37,785,233
- CITADEL ADVISORS LLC added 650,198 shares (+247.2%) to their portfolio in Q1 2026, for an estimated $36,196,522
- FMR LLC removed 582,961 shares (-89.5%) from their portfolio in Q1 2026, for an estimated $32,453,438
- FEDERATED HERMES, INC. added 493,903 shares (+201.6%) to their portfolio in Q1 2026, for an estimated $27,495,580
- WALLEYE CAPITAL LLC added 432,886 shares (+1749.1%) to their portfolio in Q1 2026, for an estimated $24,098,763
- GOLDMAN SACHS GROUP INC added 407,606 shares (+61.6%) to their portfolio in Q1 2026, for an estimated $22,691,426
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
