BMC Software, Inc. (NASDAQ:BMC) has seen a decrease in activity from the world’s largest hedge funds recently.
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With all of this in mind, we’re going to take a peek at the latest action surrounding BMC Software, Inc. (NASDAQ:BMC).
How are hedge funds trading BMC Software, Inc. (NASDAQ:BMC)?
Heading into 2013, a total of 19 of the hedge funds we track held long positions in this stock, a change of -27% from the third quarter. With the smart money’s capital changing hands, there exists a few notable hedge fund managers who were upping their stakes substantially.
When looking at the hedgies we track, Paul Singer’s Elliott Management had the largest position in BMC Software, Inc. (NASDAQ:BMC), worth close to $530.9 million, accounting for 16.2% of its total 13F portfolio. The second largest stake is held by Larry Robbins of Glenview Capital, with a $206.4 million position; the fund has 2.9% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.
Since BMC Software, Inc. (NASDAQ:BMC) has witnessed bearish sentiment from hedge fund managers, it’s easy to see that there exists a select few hedge funds that slashed their entire stakes in Q4. At the top of the heap, Keith Meister’s Corvex Capital said goodbye to the biggest investment of the 450+ funds we watch, worth close to $73.1 million in stock., and Jeffrey Altman of Owl Creek Asset Management was right behind this move, as the fund dropped about $40.8 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest was cut by 7 funds in Q4.
How are insiders trading BMC Software, Inc. (NASDAQ:BMC)?
Insider trading activity, especially when it’s bullish, is particularly usable when the primary stock in question has seen transactions within the past six months. Over the last half-year time frame, BMC Software, Inc. (NASDAQ:BMC) has seen zero unique insiders purchasing, and 8 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to BMC Software, Inc. (NASDAQ:BMC). These stocks are Workday Inc (NYSE:WDAY), SolarWinds Inc (NYSE:SWI), Red Hat, Inc. (NYSE:RHT), F5 Networks, Inc. (NASDAQ:FFIV), and Nuance Communications Inc. (NASDAQ:NUAN). This group of stocks are in the application software industry and their market caps are similar to BMC’s market cap.