Is Pervasive Software Inc. (NASDAQ:PVSW) worth your attention right now? The best stock pickers are turning bullish. The number of long hedge fund bets advanced by 3 lately.
In the financial world, there are many gauges market participants can use to track Mr. Market. A pair of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top fund managers can trounce their index-focused peers by a very impressive margin (see just how much).
Just as beneficial, bullish insider trading sentiment is a second way to parse down the stock market universe. There are plenty of reasons for an executive to get rid of shares of his or her company, but just one, very obvious reason why they would behave bullishly. Several academic studies have demonstrated the impressive potential of this tactic if shareholders know what to do (learn more here).
With all of this in mind, it’s important to take a peek at the latest action regarding Pervasive Software Inc. (NASDAQ:PVSW).
What does the smart money think about Pervasive Software Inc. (NASDAQ:PVSW)?
In preparation for this year, a total of 9 of the hedge funds we track were long in this stock, a change of 50% from the previous quarter. With the smart money’s capital changing hands, there exists a few key hedge fund managers who were upping their holdings significantly.
Of the funds we track, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Pervasive Software Inc. (NASDAQ:PVSW). Royce & Associates has a $13 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On Royce & Associates’s heels is John Fichthorn of Dialectic Capital Management, with a $8.6 million position; 0.9% of its 13F portfolio is allocated to the stock. Other peers with similar optimism include John W. Rogers’s Ariel Investments, Jim Simons’s Renaissance Technologies and Cliff Asness’s AQR Capital Management.
With a general bullishness amongst the heavyweights, key hedge funds have jumped into Pervasive Software Inc. (NASDAQ:PVSW) headfirst. Two Sigma Advisors, managed by John Overdeck and David Siegel, assembled the most valuable position in Pervasive Software Inc. (NASDAQ:PVSW). Two Sigma Advisors had 0.4 million invested in the company at the end of the quarter. Mario Gabelli’s GAMCO Investors also initiated a $0.3 million position during the quarter. The only other fund with a brand new PVSW position is Paul Touradji’s TOURADJI CAPITAL MANAGEMENT, LP.
How have insiders been trading Pervasive Software Inc. (NASDAQ:PVSW)?
Insider purchases made by high-level executives is best served when the company we’re looking at has seen transactions within the past six months. Over the latest 180-day time frame, Pervasive Software Inc. (NASDAQ:PVSW) has experienced zero unique insiders buying, and zero 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 Pervasive Software Inc. (NASDAQ:PVSW). These stocks are Exa Corp (NASDAQ:EXA), FalconStor Software, Inc. (NASDAQ:FALC), PC Tel Inc (NASDAQ:PCTI), ARC Document Solutions Inc (NYSE:ARC), and Brightcove Inc (NASDAQ:BCOV). This group of stocks are the members of the application software industry and their market caps match PVSW’s market cap.