Indaba Capital Management adds Cvent Inc (CVT) to its portfolio

Cvent Inc (CVT) : Indaba Capital Management added new position in Cvent Inc during the most recent quarter end. The investment management firm now holds 588,377 shares of Cvent Inc which is valued at $18,057,290 , the company said in a statement filed on Nov 14, 2016 with the SEC.Cvent Inc makes up approximately 9.29% of Indaba Capital Management’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co sold out all of its stake in CVT during the most recent quarter. The investment firm sold 12,001 shares of CVT which is valued $368,311.Citadel Advisors reduced its stake in CVT by selling 69,986 shares or 67.1% in the most recent quarter. The Hedge Fund company now holds 34,318 shares of CVT which is valued at $1,070,722.Advisor Group reduced its stake in CVT by selling 1,620 shares or 98.9% in the most recent quarter. The Hedge Fund company now holds 18 shares of CVT which is valued at $557. Teacher Retirement System Of Texas sold out all of its stake in CVT during the most recent quarter. The investment firm sold 4,430 shares of CVT which is valued $135,159.

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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