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Sciquest Inc (SQI): RGM Capital Decreases Stake

Page 1 of 4

A newly-amended 13D filing with the SEC revealed that Robert G. Moses RGM Capital has decreased its stake in Sciquest Inc (NASDAQ:SQI) to 1.26 million common shares or 4.53% of the company’s outstanding stock. RGM Capital previously held close to 2.26 million shares, which accounted for 8.12% of Sciquest’s outstanding stock, as reported in its previous last 13D filing on the company, dated July 1. The filing also reported that RGM Capital still intends to support the company’s merger with Accel-KKR, which will pay shareholders $17.75 in cash per share. With the deal all but a certainty to be completed, shares are already trading close to the transaction price, at $17.70.

Sciquest is a company that provides cloud-based business automation solutions. Over the past 12 months, the company’s stock has gained 28.54%. In its latest financial report for the first quarter of 2016, Sciquest (NASDAQ:SQI) disclosed earnings per share of $0.04 and revenue of $26.9 million, which compares to a loss per share of $0.01 and revenue of $25.9 million for the same period of the previous year. Sciquest entered into a definitive agreement to be acquired by Accel-KKR for approximately $509 million on May 31. The deal is expected to close during the current quarter.

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According to Insider Monkey’s hedge fund database, 16 investors were long SciQuest (NASDAQ:SQI) at the end of March, up from 15 funds at the end of the previous quarter. The largest stake was registered by RGM Capital, with the second-biggest stake being disclosed by Michael Murphy and Daniel Donoghue’s Discovery Group, valued at $24.9 million. Some other hedge funds that were bullish on the stock included George McCabe’s Portolan Capital Management, Jim Simons’ Renaissance Technologies, and Brian Taylor’s Pine River Capital Management, which also initiated the most valuable position in Sciquest (NASDAQ:SQI) during the quarter, having a $3.9 million position in the stock on March 31.

You can access the original SEC filing by clicking here.

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Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
RGM Capital 0 0 1,258,345 1,258,345 4.53%
Robert G. Moses 0 0 1,258,345 1,258,345 4.53%

Robert G. Moses
Robert G. Moses
RGM Capital

Page 1 of 4 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Amendment No. 2)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

SCIQUEST, INC.
————————————————
(Name of Issuer)

Common Stock, $0.001 par value per share
————————————————
(Title of Class of Securities)

80908T101
————————————————
(CUSIP Number)

Robert G. Moses
RGM Capital, LLC
9010 Strada Stell Court
Suite 105
Naples, FL 34109
(239)-593-1280
————————————————
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

July 12, 2016
————————————————
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 240.13d-1(b)(e), 240.13d-1(f) or
240.13d-1(g) check the following box [ ].

CUSIP NO. 80908T101
—————————————————————————-
1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON (entities only)

RGM Capital, LLC
I.D. No. 06-1685711
—————————————————————————–
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
—————————————————————————–
3. SEC USE ONLY

—————————————————————————–
4. SOURCE OF FUNDS*

WC*
—————————————————————————–
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
—————————————————————————–
6. CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
—————————————————————————–
7. SOLE VOTING POWER
0
NUMBER OF ———————————————————-
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 1,258,345**
OWNED BY EACH ———————————————————-
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
———————————————————-
10. SHARED DISPOSITIVE POWER
1,258,345**
—————————————————————————–
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,258,345**
—————————————————————————–
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
—————————————————————————–
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.53%
—————————————————————————–
14. TYPE OF REPORTING PERSON

00 (LLC)
—————————————————————————–
*See Item 3
**See Item 2 and 5

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