Burren Capital Advisors Ltd adds Cvent Inc (CVT) to its portfolio

Cvent Inc (CVT) : Burren Capital Advisors Ltd added new position in Cvent Inc during the most recent quarter end. The investment management firm now holds 84,940 shares of Cvent Inc which is valued at $2,606,809 , the company said in a statement filed on Nov 14, 2016 with the SEC.Cvent Inc makes up approximately 13.03% of Burren Capital Advisors Ltd’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CVT in the latest quarter, The investment management firm added 35,979 additional shares and now holds a total of 1,653,178 shares of Cvent Inc which is valued at $50,736,033. Princeton Alpha Management Lp added CVT to its portfolio by purchasing 13,575 company shares during the most recent quarter which is valued at $423,540. Cvent Inc makes up approx 0.08% of Princeton Alpha Management Lp’s portfolio. Longfellow Investment Management Co added CVT to its portfolio by purchasing 125,000 company shares during the most recent quarter which is valued at $3,835,000. Cvent Inc makes up approx 2.53% of Longfellow Investment Management Co’s portfolio. Fny Managed Accounts added CVT to its portfolio by purchasing 112,543 company shares during the most recent quarter which is valued at $3,423,558. Cvent Inc makes up approx 3.81% of Fny Managed Accounts’s portfolio.

Cvent Inc opened for trading at $35.96 and hit $35.98 on the upside on Monday, eventually ending the session at $35.97, with a gain of 0.70% or 0.25 points. The heightened volatility saw the trading volume jump to 32,19,537 shares. Company has a market cap of $1,529 M.

On the company’s financial health, Cvent Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.08. The company had revenue of $48.40 million for the quarter, compared to analysts expectations of $47.81 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Cvent Inc. is a cloud-based enterprise event management platform. The Company provides solutions for both sides of the events and meetings value chain such as event and meeting planners and hotels and venues. The Company’s integrated cloud-based solution is used in the entire event lifecycle by allowing event and meeting planners to organize market and manage their meetings conferences tradeshows and other events. Its hospitality cloud provides hotels and venues with a solution suite to generate manage and measure their demand for group meetings. For the event and meeting planner side of the value chain which includes corporations associations not-for-profits Government agencies and universities and events and meetings? It offers six product categories which include event management software enterprise solutions software mobile event apps pre- and post-event feedback management software ticketing software and the Hospitality Cloud which includes CSN.

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