Fund Builds $40 Million SPS Commerce Stake as Shares Sink 60% Despite 100 Straight Growth Quarters
2026-02-23 14:34:39 ET
Irenic Capital Management initiated a new position in SPS Commerce (NASDAQ:SPSC) , acquiring 452,066 shares in the fourth quarter, according to a February 17, 2026, SEC filing.
Irenic Capital Management disclosed a new stake in SPS Commerce (NASDAQ:SPSC) , purchasing 452,066 shares during the fourth quarter of 2025. The position's value at quarter-end was $40.3 million, according to the SEC filing dated February 17, 2026.
SPS Commerce, Inc. is a leading provider of cloud-based supply chain management solutions, enabling automation and enhanced analytics for a diverse customer base. The company leverages a scalable SaaS platform to drive operational efficiency and compliance in complex trading ecosystems. Its strategic focus on automation and data-driven insights positions it as a key technology partner for organizations navigating omnichannel retail and distribution challenges.
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