SPS COMM INC SPSC
COM · Common Stock · CUSIP 78463M107 · ISIN US78463M1071
Software corporation headquartered in Minneapolis, Minnesota, USA
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersMinneapolis, MN
- Founded1987
- Websitespscommerce.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($393.5k this quarter). Holder counts are more reliable. Shares outstanding: 36.0m as of 2026-07-23, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $57.19. Options: 6 managers hold calls ($7.6m notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 324 |
| Q4 2022 | 337 |
| Q1 2023 | 362 |
| Q2 2023 | 375 |
| Q3 2023 | 381 |
| Q4 2023 | 403 |
| Q1 2024 | 423 |
| Q2 2024 | 449 |
| Q3 2024 | 461 |
| Q4 2024 | 460 |
| Q1 2025 | 449 |
| Q2 2025 | 454 |
| Q3 2025 | 404 |
| Q4 2025 | 367 |
| Q1 2026 | 330 |
| Q2 2026 | 319 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 222 | 207 |
| Q4 2024 | 212 | 228 |
| Q1 2025 | 233 | 231 |
| Q2 2025 | 234 | 202 |
| Q3 2025 | 198 | 246 |
| Q4 2025 | 166 | 244 |
| Q1 2026 | 182 | 185 |
| Q2 2026 | 172 | 176 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $10.6m | $3.1m | 0.29 |
| Q4 2025 | $9.1m | $249.6k | 0.03 |
| Q1 2026 | $17.9m | $2.0m | 0.11 |
| Q2 2026 | $7.6m | $0 | 0.00 |
Biggest buyers
| DISCIPLINED GROWTH INVESTORS INC /MN | Added | +1.3m |
| Engine Capital Management, LP | New | +916.4k |
| Invenomic Capital Management LP | Added | +605.3k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +268.3k |
| Long Path Partners LP | New | +180.9k |
| Lightrock Netherlands B.V. | Added | +171.5k |
| FEDERATED HERMES, INC. | Added | +162.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +155.0k |
| Pacer Advisors, Inc. | Added | +108.2k |
| PERRY CREEK CAPITAL LP | New | +105.9k |
Biggest sellers
| Van Berkom & Associates Inc. | Reduced | -726.1k |
| BANK OF AMERICA CORP /DE/ | Reduced | -620.0k |
| NORDEA INVESTMENT MANAGEMENT AB | Sold out | -537.9k |
| Anson Funds Management LP | Reduced | -405.0k |
| RIVERBRIDGE PARTNERS LLC | Reduced | -383.1k |
| D. E. Shaw & Co., Inc. | Reduced | -308.0k |
| Walleye Capital LLC | Reduced | -277.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -251.7k |
| FIL Ltd | Reduced | -203.6k |
| Local Pensions Partnership Investment Ltd | Sold out | -185.5k |
Biggest calls
| Anson Funds Management LP | Reduced | $5.7m100.0k shares |
| IMC-Chicago, LLC | Added | $863.3k15.1k shares |
| DRW Securities, LLC | New | $485.9k8.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $371.6k6.5k shares |
| GROUP ONE TRADING LLC | Reduced | $114.3k2.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $11.4k200 shares |
Biggest puts
| None |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-10-17 | 14.7% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.0% |
| DISCIPLINED GROWTH INVESTORS INC /MN 13G · institution new · filed 2026-08-14 | 5.9% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.3% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 2 | $3.1m | $1.8m |
| Q1 2025 | 0 | — | 4 | $8.8m | $8.8m |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 4 | $1.6m | $1.6m |
| Q2 2026 | 0 | — | 1 | $114.9k | $114.9k |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-05-07 | Reaume Marty M Director | Sold plan | $57.0k1.0k shares |
| 2026-04-07 | Reaume Marty M Director | Sold plan | $57.9k1.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 5.9m $339.3m | Added +105.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 2.9m $166.6m | Reduced -44.1k |
| DISCIPLINED GROWTH INVESTORS INC /MN 2.06% of their portfolio | 2.1m $121.4m | Added +1.3m |
| NEUBERGER BERMAN GROUP LLC 0.07% of their portfolio | 1.8m $101.8m | Reduced -9.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.6m $91.4m | Reduced -99.7k |
| STATE STREET CORP 0.00% of their portfolio | 1.5m $88.4m | Added +45.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.3m $72.4m | Added +268.3k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.1m $63.3m | Added +38.2k |
| MORGAN STANLEY 0.00% of their portfolio | 998.0k $57.1m | Added +37.1k |
| Jupiter Topco LLC 0.02% of their portfolio | 984.4k $56.3m | First filing |
| Engine Capital Management, LP 5.10% of their portfolio | 916.4k $52.4m | New |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 913.9k $52.2m | Added +628 |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 901.6k $51.5m | Added +162.7k |
| Invenomic Capital Management LP 2.97% of their portfolio | 869.4k $49.7m | Added +605.3k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.04% of their portfolio | 760.7k $43.5m | Added +50.4k |
| Anson Funds Management LP 3.88% of their portfolio | 745.0k $42.6m | Reduced -405.0k |
| Van Berkom & Associates Inc. 1.16% of their portfolio | 630.3k $36.0m | Reduced -726.1k |
| Lightrock Netherlands B.V. 6.92% of their portfolio | 613.2k $35.1m | Added +171.5k |
| Irenic Capital Management LP 2.46% of their portfolio | 597.7k $34.2m | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 542.5k $31.0m | Added +41.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 509.5k $29.1m | Added +155.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 494.9k $28.3m | Added +53.1k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.04% of their portfolio | 412.0k $23.6m | Added +50.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 378.6k $21.6m | Reduced -620.0k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 343.9k $19.7m | Reduced -160.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 275.2k $15.7m | Reduced -13.6k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 270.9k $15.5m | Reduced -7.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 268.3k $15.3m | Added +4.7k |
| BARCLAYS PLC 0.00% of their portfolio | 267.1k $15.3m | Added +69.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 262.1k $15.0m | Reduced -33.6k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 253.8k $14.5m | Reduced -8.3k |
| Nuveen, LLC 0.00% of their portfolio | 232.1k $13.3m | Reduced -36.9k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 218.3k $12.5m | Reduced -33.6k |
| GLENMEDE TRUST CO NA 0.05% of their portfolio | 214.3k $12.3m | Added +45.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 207.9k $11.9m | Added +92.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 202.6k $11.6m | Reduced -14.6k |
| Fenimore Asset Management Inc 0.23% of their portfolio | 195.8k $11.2m | Reduced -1.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 184.4k $10.5m | Reduced -35.0k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 182.8k $10.5m | Reduced -308.0k |
| Long Path Partners LP 4.41% of their portfolio | 180.9k $10.3m | New |
| Walleye Capital LLC 0.05% of their portfolio | 180.3k $10.3m | Reduced -277.3k |
| UBS Group AG 0.00% of their portfolio | 175.7k $10.0m | Added +76.9k |
| Invesco Ltd. 0.00% of their portfolio | 174.2k $10.0m | Added +21.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 156.9k $9.0m | Reduced -1.3k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 153.8k $8.8m | Reduced -4.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 140.0k $8.0m | Reduced -26.7k |
| BESSEMER GROUP INC 0.01% of their portfolio | 119.6k $6.8m | Reduced -9 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 110.7k $6.5m | Reduced -144.6k |
| Legal & General Group Plc 0.00% of their portfolio | 110.5k $6.3m | Added +8.2k |
| Pacer Advisors, Inc. 0.02% of their portfolio | 109.6k $6.3m | Added +108.2k |
| PERRY CREEK CAPITAL LP 2.77% of their portfolio | 105.9k $6.1m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 101.9k $5.8m | Added +1.0k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 94.2k $5.4m | Added +4.2k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 93.2k $5.3m | Reduced -13.5k |
| Creative Planning 0.00% of their portfolio | 85.9k $4.9m | Added +45.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio | 84.2k $4.8m | Reduced -16.6k |
| RENAISSANCE GROUP LLC 0.18% of their portfolio | 78.3k $4.5m | Reduced -16.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 78.3k $4.4m | Added +82 |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 75.9k $4.3m | Added +17.8k |
| LPL Financial LLC 0.00% of their portfolio | 74.7k $4.3m | Reduced -9.1k |
| Swiss National Bank 0.00% of their portfolio | 74.4k $4.3m | Reduced -400 |
| CAXTON ASSOCIATES LLP 0.08% of their portfolio | 74.3k $4.2m | Added +18.7k |
| AMERICAN CAPITAL MANAGEMENT INC 0.19% of their portfolio | 74.0k $4.2m | Reduced -12.1k |
| Quantinno Capital Management LP 0.00% of their portfolio | 70.3k $4.0m | Added +8.1k |
| HERALD INVESTMENT MANAGEMENT Ltd 0.54% of their portfolio | 70.0k $4.0m | Unchanged |
| Voleon Capital Management LP 0.07% of their portfolio | 69.8k $4.0m | Reduced -14.0k |
| Sovereign's Capital Management, LLC 2.64% of their portfolio | 69.2k $4.0m | Reduced -917 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 68.2k $3.9m | Reduced -5.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 67.8k $3.9m | Added +21.4k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 66.0k $3.8m | Reduced -7.9k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.06% of their portfolio | 63.3k $3.6m | Unchanged |
| Diametric Capital, LP 0.36% of their portfolio | 59.5k $3.4m | New |
| FMR LLC 0.00% of their portfolio | 59.2k $3.4m | Reduced -8.9k |
| BUCKHEAD CAPITAL MANAGEMENT LLC 1.13% of their portfolio | 57.6k $3.3m | Added +592 |
| Ballast Asset Management, LP 1.28% of their portfolio | 56.2k $3.2m | Added +18.8k |
| Palisades Investment Partners, LLC 0.91% of their portfolio | 55.8k $3.2m | Added +1.2k |
| FRED ALGER MANAGEMENT, LLC 0.01% of their portfolio | 55.2k $3.2m | Reduced -654 |
| Verition Fund Management LLC 0.02% of their portfolio | 55.0k $3.1m | Added +50.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 53.5k $3.1m | Added +9.3k |
| NATIXIS 0.01% of their portfolio | 52.5k $3.0m | Reduced -2.6k |
| Occam Crest Management LP 1.99% of their portfolio | 52.0k $3.6m | New |
| Numerai GP LLC 0.23% of their portfolio | 50.1k $2.9m | Added +24.5k |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 49.7k $2.8m | Reduced -161.7k |
| Amundi 0.00% of their portfolio | 45.3k $2.6m | Added +10.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 44.5k $2.5m | Added +7.8k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 40.3k $2.3m | Reduced -9.4k |
| BROWN CAPITAL MANAGEMENT LLC 0.44% of their portfolio | 38.2k $2.2m | Reduced -34.2k |
| Prescott Group Capital Management, L.L.C. 0.19% of their portfolio | 38.2k $2.2m | Added +27.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 36.3k $2.1m | Reduced -37.2k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 35.6k $2.0m | Added +3.5k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 35.6k $2.0m | Added +19.7k |
| Ewing Morris & Co. Investment Partners Ltd. 1.05% of their portfolio | 35.2k $2.0m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 34.0k $1.9m | Added +1.8k |
| Bridgewater Associates, LP 0.01% of their portfolio | 32.8k $1.9m | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 31.9k $1.8m | Reduced -19.9k |
| Corient Private Wealth LP 0.00% of their portfolio | 31.2k $1.8m | Reduced -5.0k |
| Linden Thomas Advisory Services, LLC 0.14% of their portfolio | 30.4k $1.7m | Added +18.5k |
| Hillsdale Investment Management Inc. 0.04% of their portfolio | 30.3k $1.7m | Added +4.2k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 29.0k $1.7m | Added +20.1k |
| Jump Financial, LLC 0.01% of their portfolio | 28.4k $1.6m | Reduced -31.7k |