SPS Commerce (SPSC) reported third-quarter 2026 revenue of $197.6 million, up 4% from $189.9 million a year earlier. GAAP net income was $30.7 million, or $0.85 per diluted share, compared with $25.6 million, or $0.67 per diluted share, in the prior-year quarter.
The company said results were partially offset by the divestiture of its 3P Revenue Recovery business, completed in the second quarter, and variability in its 1P Revenue Recovery take-rate model.
- Recurring revenue grew 4% year over year.
- Adjusted EBITDA, a non-GAAP measure, increased 17% to $70.9 million.
- Third-quarter share repurchases totaled $48.8 million.
- Fourth-quarter revenue guidance is $199.3 million to $201.3 million, with GAAP diluted EPS guidance of $0.74 to $0.79.
- Full-year 2026 revenue guidance is $786.9 million to $788.9 million, and GAAP diluted EPS guidance is $2.29 to $2.35.
$SPSC Hedge Fund Activity
We have seen 166 institutional investors add shares of $SPSC stock to their portfolio, and 173 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DISCIPLINED GROWTH INVESTORS INC /MN added 1,312,943 shares (+161.9%) to their portfolio in Q2 2026, for an estimated $75,060,951
- ENGINE CAPITAL MANAGEMENT, LP added 916,380 shares (+inf%) to their portfolio in Q2 2026, for an estimated $52,389,444
- BANK OF AMERICA CORP /DE/ removed 620,035 shares (-62.1%) from their portfolio in Q2 2026, for an estimated $35,447,400
- INVENOMIC CAPITAL MANAGEMENT LP added 605,315 shares (+229.2%) to their portfolio in Q2 2026, for an estimated $34,605,858
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 542,524 shares (+inf%) to their portfolio in Q2 2026, for an estimated $31,016,097
- NORDEA INVESTMENT MANAGEMENT AB removed 537,906 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $30,752,086
- NORGES BANK removed 536,869 shares (-95.9%) from their portfolio in Q2 2026, for an estimated $30,692,800
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.
