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 ($29.1m this quarter). Holder counts are more reliable. Shares outstanding: 37.4m as of 2026-02-12, 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 ≈ $89.14. Options: 3 managers hold calls ($9.1m notional), 1 hold puts ($249.6k).
Trends to Q4 2025
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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 217 | 186 |
| Q2 2024 | 245 | 177 |
| Q3 2024 | 222 | 207 |
| Q4 2024 | 212 | 228 |
| Q1 2025 | 233 | 231 |
| Q2 2025 | 234 | 202 |
| Q3 2025 | 198 | 246 |
| Q4 2025 | 166 | 244 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $13.8m | $3.7m | 0.26 |
| Q2 2025 | $5.6m | $6.5m | 1.16 |
| Q3 2025 | $10.6m | $3.1m | 0.29 |
| Q4 2025 | $9.1m | $249.6k | 0.03 |
Biggest buyers
| UBS Group AG | Added | +836.4k |
| BANK OF AMERICA CORP /DE/ | Added | +567.7k |
| Irenic Capital Management LP | New | +452.1k |
| NOMURA HOLDINGS INC | New | +303.9k |
| GOLDMAN SACHS GROUP INC | Added | +270.4k |
| CITADEL ADVISORS LLC | New | +263.0k |
| FEDERATED HERMES, INC. | Added | +244.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +184.5k |
| D. E. Shaw & Co., Inc. | Added | +144.3k |
| Public Sector Pension Investment Board | Added | +125.7k |
Biggest sellers
| Lombard Odier Asset Management (Europe) Ltd | Sold out | -5.0m |
| Conestoga Capital Advisors, LLC | Reduced | -638.7k |
| MACQUARIE GROUP LTD | Sold out | -601.0k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Sold out | -555.6k |
| JPMORGAN CHASE & CO | Reduced | -451.4k |
| Granahan Investment Management, LLC | Reduced | -368.8k |
| Champlain Investment Partners, LLC | Sold out | -352.7k |
| RGM Capital, LLC | Sold out | -219.1k |
| Capital World Investors | Sold out | -214.5k |
| GENEVA CAPITAL MANAGEMENT LLC | Reduced | -198.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.9m99.6k shares |
| CITADEL ADVISORS LLC | Reduced | $258.5k2.9k shares |
| SIMPLEX TRADING, LLC | Unchanged | $8.9k100 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $249.6k2.8k shares |
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 in Q4 2025
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 |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 4 | $24.6m | $23.5m |
| Q2 2024 | 0 | — | 1 | $1.3m | — |
| Q3 2024 | 0 | — | 4 | $3.1m | $2.6m |
| 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 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 5.7m $509.6m | Added +69.9k |
| VANGUARD GROUP INC 0.01% of their portfolio | 4.9m $439.0m | Reduced -19.0k |
| STATE STREET CORP 0.00% of their portfolio | 1.5m $130.9m | Added +8.2k |
| NEUBERGER BERMAN GROUP LLC 0.09% of their portfolio | 1.4m $126.1m | Added +115.2k |
| UBS Group AG 0.02% of their portfolio | 1.3m $115.4m | Added +836.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.09% of their portfolio | 1.2m $108.8m | Reduced -75.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 971.4k $86.6m | Added +1.7k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 967.2k $86.2m | Added +567.7k |
| MORGAN STANLEY 0.00% of their portfolio | 872.0k $77.7m | Reduced -101.6k |
| DISCIPLINED GROWTH INVESTORS INC /MN 1.44% of their portfolio | 844.6k $75.3m | Added +52.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.08% of their portfolio | 739.8k $65.9m | Added +184.5k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 661.6k $59.0m | Added +270.4k |
| FMR LLC 0.00% of their portfolio | 651.1k $58.0m | Added +23.5k |
| Conestoga Capital Advisors, LLC 0.96% of their portfolio | 642.8k $57.3m | Reduced -638.7k |
| Van Berkom & Associates Inc. 1.59% of their portfolio | 616.9k $55.0m | Added +118.7k |
| NORGES BANK 0.01% of their portfolio | 559.7k $49.9m | Not comparable |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.07% of their portfolio | 546.6k $48.7m | First filing |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 488.8k $43.6m | Reduced -3.8k |
| RIVERBRIDGE PARTNERS LLC 0.80% of their portfolio | 480.8k $42.9m | Added +9.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 478.5k $42.6m | Reduced -451.4k |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 452.5k $40.3m | Added +144.3k |
| Irenic Capital Management LP 5.28% of their portfolio | 452.1k $40.3m | New |
| NORTHERN TRUST CORP 0.01% of their portfolio | 452.1k $40.3m | Reduced -53.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 430.3k $38.4m | Reduced -52.7k |
| AMERICAN CAPITAL MANAGEMENT INC 1.21% of their portfolio | 306.8k $27.3m | Added +23.3k |
| NOMURA HOLDINGS INC 0.08% of their portfolio | 303.9k $27.1m | New |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.09% of their portfolio | 286.8k $25.6m | Added +17.3k |
| GENEVA CAPITAL MANAGEMENT LLC 0.47% of their portfolio | 281.4k $25.1m | Reduced -198.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 274.4k $24.5m | Reduced -15.0k |
| Public Sector Pension Investment Board 0.08% of their portfolio | 273.6k $24.4m | Added +125.7k |
| Nuveen, LLC 0.01% of their portfolio | 268.2k $23.9m | Added +9.9k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 263.0k $23.4m | New |
| BARCLAYS PLC 0.01% of their portfolio | 259.4k $23.1m | Added +88.2k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 256.7k $22.9m | Reduced -41.8k |
| FEDERATED HERMES, INC. 0.04% of their portfolio | 245.0k $21.8m | Added +244.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 244.5k $21.8m | Added +82.7k |
| FIL Ltd 0.02% of their portfolio | 235.7k $21.0m | Added +121.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 226.7k $20.2m | Added +12.7k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.11% of their portfolio | 226.0k $20.1m | Reduced -10.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 213.6k $19.0m | Reduced -3.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 209.7k $18.7m | Reduced -62.8k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.13% of their portfolio | 208.8k $18.6m | Reduced -11.9k |
| LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio | 208.7k $18.6m | Reduced -50.6k |
| DF DENT & CO INC 0.26% of their portfolio | 202.8k $18.1m | Reduced -34.7k |
| Local Pensions Partnership Investment Ltd 0.29% of their portfolio | 185.5k $16.5m | Unchanged |
| CONGRESS ASSET MANAGEMENT CO 0.11% of their portfolio | 168.9k $15.1m | Added +9.1k |
| Fenimore Asset Management Inc 0.31% of their portfolio | 164.9k $14.7m | Added +19.0k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 156.5k $13.9m | Added +55.3k |
| Invesco Ltd. 0.00% of their portfolio | 133.0k $11.9m | Added +22.7k |
| GLENMEDE TRUST CO NA 0.05% of their portfolio | 128.7k $11.5m | First filing |
| Summit Creek Advisors LLC 1.80% of their portfolio | 128.1k $11.4m | Reduced -6.7k |
| Legal & General Group Plc 0.00% of their portfolio | 114.5k $10.2m | Reduced -7.7k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 113.1k $10.1m | Added +95.3k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio | 109.1k $9.7m | Added +10.6k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 106.0k $9.3m | Added +12.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 103.7k $9.2m | Reduced -4.2k |
| BROWN CAPITAL MANAGEMENT LLC 0.74% of their portfolio | 101.6k $9.1m | Reduced -116.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 100.8k $9.0m | Added +2.4k |
| FRED ALGER MANAGEMENT, LLC 0.03% of their portfolio | 100.0k $8.9m | Reduced -75.0k |
| BESSEMER GROUP INC 0.01% of their portfolio | 98.2k $8.8m | Added +90.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 89.0k $7.9m | Reduced -26.3k |
| COMERICA BANK 0.03% of their portfolio | 86.0k $7.7m | Reduced -35.9k |
| Verition Fund Management LLC 0.04% of their portfolio | 85.0k $7.6m | Added +53.0k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 84.9k $7.6m | Reduced -23.0k |
| Lightrock Netherlands B.V. 1.53% of their portfolio | 82.9k $7.4m | New |
| Voleon Capital Management LP 0.16% of their portfolio | 82.8k $7.4m | Added +70.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 78.9k $7.0m | Reduced -2.2k |
| LPL Financial LLC 0.00% of their portfolio | 77.7k $6.9m | Reduced -5.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 75.2k $6.7m | Reduced -59.7k |
| Swiss National Bank 0.00% of their portfolio | 74.8k $6.7m | Added +1.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 71.0k $6.3m | Reduced -97.9k |
| Edgestream Partners, L.P. 0.18% of their portfolio | 70.5k $6.3m | Added +7.9k |
| HERALD INVESTMENT MANAGEMENT Ltd 0.82% of their portfolio | 70.0k $6.2m | Added +15.0k |
| California Public Employees Retirement System 0.00% of their portfolio | 67.7k $6.0m | Added +2.8k |
| Select Equity Group, L.P. 0.03% of their portfolio | 67.0k $6.0m | Added +847 |
| Bridgewater Associates, LP 0.02% of their portfolio | 65.6k $5.8m | Added +36.4k |
| NICHOLAS COMPANY, INC. 0.10% of their portfolio | 64.4k $5.7m | Added +5.5k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.07% of their portfolio | 63.3k $5.6m | Added +13.9k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 62.1k $5.5m | Reduced -8.6k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 61.0k $5.4m | Added +2.0k |
| RENAISSANCE GROUP LLC 0.21% of their portfolio | 59.9k $5.3m | Reduced -16.2k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 56.9k $5.1m | Added +34.3k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 55.2k $4.9m | Reduced -2.4k |
| Grandeur Peak Global Advisors, LLC 0.61% of their portfolio | 50.7k $4.5m | Reduced -49.7k |
| Sovereign's Capital Management, LLC 2.72% of their portfolio | 50.3k $4.5m | Added +34.6k |
| Palisades Investment Partners, LLC 1.69% of their portfolio | 50.2k $4.5m | Added +1.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 45.8k $4.1m | Reduced -57.4k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 45.1k $4.0m | Added +24.9k |
| OSAIC HOLDINGS, INC. 0.01% of their portfolio | 45.1k $4.0m | Reduced -7.9k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 43.0k $3.8m | Reduced -56.4k |
| Holocene Advisors, LP 0.01% of their portfolio | 42.8k $3.8m | Reduced -7.1k |
| Lombard Odier Asset Management (Europe) Ltd 0.18% of their portfolio | 40.5k $3.6m | Reduced -25.3k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 40.4k $3.6m | Reduced -35.0k |
| EVR Research LP 1.92% of their portfolio | 40.0k $3.6m | New |
| SG Americas Securities, LLC 0.00% of their portfolio | 39.8k $3.5m | Added +26.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 39.4k $3.5m | Unchanged |
| AGF MANAGEMENT LTD 0.01% of their portfolio | 38.3k $3.4m | New |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 37.0k $3.3m | Reduced -11.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 36.1k $3.2m | Reduced -18 |
| BUCKHEAD CAPITAL MANAGEMENT LLC 1.08% of their portfolio | 33.8k $3.0m | Reduced -2.2k |