Sifting through countless of stocks in the Software industry can be tedious, and sometimes two stocks are just too similar to judge which is the better investment. If you’re on the fence about investing in Bentley Systems, Incorporated, SPS Commerce or Inc. because you’re not sure how they measure up, it’s important to compare them on a few factors before making your decision.

Read on to learn how Bentley Systems, Incorporated, SPS Commerce and Inc. compare based on key financial metrics to determine which better meets your investment needs.

About Bentley Systems, Incorporated, SPS Commerce and Inc.

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling applications, such as MicroStation, OpenBridge, OpenBuildings, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite and OpenSite+, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation applications, including ADINA, AutoPIPE, LEGION, OpenPaths, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS. It also provides infrastructure cloud applications, such as ProjectWise, SYNCHRO, and AssetWise, as well as Cesim and iTwin platform that enables users to create and curate cloud native 4D/5D digital representations of physical infrastructure assets consisting of iTwin Capture, iTwin Experience, and iTwin IoT platforms. The company serves civil, structural, geotechnical, subsurface, process engineers, architects, geospatial professionals, city and regional planners, contractors, fabricators, and operations and maintenance engineers. Bentley Systems, Incorporated was incorporated in 1984 and is headquartered in Exton, Pennsylvania.

SPS Commerce, Inc. provides cloud-based supply chain management solutions in the United States. The company offers solutions through the SPS Commerce, a cloud-based platform that enhances the way retailers, grocers, suppliers, manufacturers, distributors, and logistics firm; and manages omnichannel, supply chain, and other business requirements. It also provides Fulfillment, a comprehensive solution designed to streamline supply chain operation that sends and receives order data, ensuring accurate execution of required processes from order to invoicing and revenue recovery through fully automated operations; and Analytics product that simplifies managing sell-through data from customers business partners that handle data acquisition, cleansing, normalization, and delivery. In addition, the company offers various complimentary products, such as assortment product, which simplifies the communication of robust, accurate item data by automatically translating item attributes, and hierarchies through single connection across all sales channels; and community product that allows organizations to accelerate digitization of their supply chain and improve collaboration with suppliers through change management, onboarding programs, and supplier score carding. The company was formerly known as St. Paul Software, Inc. and changed its name to SPS Commerce, Inc. in May 2001. SPS Commerce, Inc. was incorporated in 1987 and is headquartered in Minneapolis, Minnesota.

Latest Software and Bentley Systems, Incorporated, SPS Commerce, Inc. Stock News

As of February 4, 2026, Bentley Systems, Incorporated had a $10.3 billion market capitalization, compared to the Software median of $1.0 million. Bentley Systems, Incorporated’s stock is down 14.2% in 2026, down 12.3% in the previous five trading days and down 28.59% in the past year.

Currently, Bentley Systems, Incorporated’s price-earnings ratio is 39.6. Bentley Systems, Incorporated’s trailing 12-month revenue is $1.5 billion with a 18.4% net profit margin. Year-over-year quarterly sales growth most recently was 12.0%. Analysts expect adjusted earnings to reach $1.180 per share for the current fiscal year. Bentley Systems, Incorporated currently has a 0.9% dividend yield.

As of February 4, 2026, SPS Commerce, Inc. had a $3.1 billion market cap, putting it in the 61st percentile of all stocks. SPS Commerce, Inc.’s stock is down 7.3% in 2026, down 8.4% in the previous five trading days and down 54.12% in the past year.

Currently, SPS Commerce, Inc.’s price-earnings ratio is 36.9. SPS Commerce, Inc.’s trailing 12-month revenue is $729.8 million with a 11.7% net profit margin. Year-over-year quarterly sales growth most recently was 16.0%. Analysts expect adjusted earnings to reach $4.130 per share for the current fiscal year. SPS Commerce, Inc. does not currently pay a dividend.

How We Compare Bentley Systems, Incorporated, SPS Commerce and Inc. Stock Grades

Stock evaluation requires access to huge amounts of data and the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movements. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors streamline and work through such data.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A‐F grades for each of five key investing factors: value, growth, momentum, earnings estimate revisions and quality. Here, we’ll take a closer look at Bentley Systems, Incorporated, SPS Commerce and Inc.’s stock grades to see how they measure up against one another.

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Bentley Systems, Incorporated, SPS Commerce and Inc. Growth Grades

Company	Ticker	Growth
Bentley Systems, Incorporated	BSY	A
SPS Commerce, Inc.	SPSC	B

The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future.

In order to compute the growth score and assign it a letter grade, the percentile ranks for each of three components‐consistency of annual sales growth, five-year sales growth rankings adjusted for extreme levels, and consistency of positive annual cash from operations‐must be determined. These three rank figures are added together, and the sum is ranked against the entire stock universe to arrive at a company’s Growth Score to create an equal distribution of grades.

The companies in the bottom 20% of the stock universe receive Growth Grades of F, considered to be very weak, while those in the top 20% receive A grades, which are considered very strong.

Bentley Systems, Incorporated has a Growth Score of 91, which is Very Strong. SPS Commerce, Inc. has a Growth Score of 70, which is Strong.

The Growth Grade Winner: Bentley Systems, Incorporated

As you can clearly see from the Growth Grade breakdown above, Bentley Systems, Incorporated has a more attractive growth grade than SPS Commerce, Inc.. For investors who focus solely on how a company is growing relative to other companies in the same industry, Bentley Systems, Incorporated could be a good stock to add to their portfolio. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Bentley Systems, Incorporated, SPS Commerce and Inc.’s Quality Grades

Company	Ticker	Quality
Bentley Systems, Incorporated	BSY	B
SPS Commerce, Inc.	SPSC	A

Like the Value Grade, AAII’s A+ Investor Quality Grade comes from the percentile rank of key metrics. Specifically, the Quality Score is the percentile rank of the average of the percentile ranks of return on assets (ROA), return on invested capital (ROIC), gross profit relative to assets, buyback yield, change in total liabilities to assets, accruals, Z double prime bankruptcy risk (Z) score and the F-Score.

The score is variable, meaning it can consider all eight measures or, should any of the eight measures not be valid, the remaining measures that are valid. To be assigned a Quality Score, stocks must have a valid (non-null) measure and corresponding ranking for at least four of the eight quality measures.

The Quality Score is used to assess the underlying “quality” of a particular stock. A higher-quality stock possesses traits associated with upside potential and reduced downside risk. Backtesting of the Quality Grade shows that stocks with higher grades, on average, outperformed stocks with lower grades over the period of 1998 through 2019.

Stocks receive better grades (higher scores) for having higher scores for the quality subcomponents and worse grades (lower scores) for lower scores for the subcomponents.

Bentley Systems, Incorporated has a Quality Score of 78, which is Strong. SPS Commerce, Inc. has a Quality Score of 90, which is Very Strong.

The Quality Grade Winner: SPS Commerce, Inc.

As you can clearly see from the Quality Grade breakdown above, SPS Commerce, Inc. has a better overall quality grade than Bentley Systems, Incorporated. For investors who are looking for companies with higher quality than others in the same industry, SPS Commerce, Inc. could be a good stock to add to their portfolios. However, it’s important for investors to analyze multiple factors based on a wide range of metrics before deciding whether to buy.

Bentley Systems, Incorporated, SPS Commerce and Inc.’s Momentum Grades

Company	Ticker	Momentum
Bentley Systems, Incorporated	BSY	F
SPS Commerce, Inc.	SPSC	F

Momentum grades help to uncover stocks experiencing anomalously high rates of return; research finds that stocks with high relative levels of momentum tend to outperform, whereas those with low levels of momentum tend to continue underperforming. Momentum is based on the price change of a stock over a specified period relative to all other stocks.

Typically, AAII looks at the weighted relative strength over the trailing four quarters. The weighted four-quarter relative strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40% and each of the three previous quarters are given a weighting of 20%.

Bentley Systems, Incorporated has a Momentum Score of 15, which is Very Weak. SPS Commerce, Inc. has a Momentum Score of 15, which is Very Weak.

The Momentum Stock Winner: No Clear Winner

Neither Bentley Systems, Incorporated, SPS Commerce or Inc. has a strong enough Momentum Grade to be considered a “winner.” Investors considering these companies should do additional due diligence and research to see if either could be a good addition to their portfolios. It’s important to look at a wide range of financial metrics in order to determine if Bentley Systems, Incorporated, SPS Commerce or Inc. is the better investment when it comes to momentum.

Other Bentley Systems, Incorporated, SPS Commerce and Inc. Grades

In addition to Momentum, Quality and Growth, A+ Investor also provides grades for Value and Estimate Revisions.

Earnings estimate revisions scores take into account the magnitude of a company’s earnings surprise in its last two reported fiscal quarters. Often, surprises beget further surprises‐or at least continued sales growth (the exact opposite is generally true, too).

Successful stock investing involves buying low and selling high, so stock valuation is an important consideration for stock selection. Buying stocks that are going to go up typically means buying stocks that are undervalued in the first place, although momentum investors may argue that point.

These 2 key factors, when combined with the above, provide a holistic view into a particular stock. Further, by joining A+ Investor you can see whether Bentley Systems, Incorporated, SPS Commerce and Inc. pass any of our 60+ stock screens that have outperformed the market since their creation.

So, Which Is the Better Investment, Bentley Systems, Incorporated, SPS Commerce or Inc. Stock?

Overall, Bentley Systems, Incorporated stock has a Growth Score of 91, Momentum Score of 15 and Quality Score of 78.

SPS Commerce, Inc. stock has a Growth Score of 70, Momentum Score of 15 and Quality Score of 90.

Comparing Bentley Systems, Incorporated, SPS Commerce and Inc.’s grades, scores and metrics can act as a solid basis to determine whether they may be a good investment or not. You’ll also want to look at your portfolio’s asset allocation as well as your risk tolerance and financial goals to see if either of these stocks would make a good fit for you. AAII can help you figure out which investments align with your individual needs and preferences.

Investors are encouraged to do their own due diligence and research. In this way, individuals can effectively become managers of their own assets‐without having to rely on others for financial independence. You can count on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis.

A+ Investor adds to our qualitative teaching with a powerful data suite to help you whittle down investment choices to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith, and we accept no liability for any errors or omissions. The full disclaimer can be read here.