Anson Pushes SPS Commerce Explore Sale, Management Changes

Anson Funds Management has taken a stake in SPS Commerce Inc. and is pushing the maker of retail supply chain management software to consider ousting its chief executive officer and put itself up for sale.

Anson believes the board “must thoroughly examine all options” to improve its stock price, which lags competitors by 40% to 60%, according to a presentation Tuesday by Anson Funds portfolio manager Sagar Gupta at the Bloomberg Activism Forum 2025.

While SPS Commerce has strong recurring revenue and a market leading position in its niche, its share price has fallen 50% since CEO Chad Collins took ...