Advent Software, Inc. (NASDAQ:ADVS) was in 7 hedge funds’ portfolio at the end of December. ADVS investors should pay attention to a decrease in hedge fund sentiment lately. There were 7 hedge funds in our database with ADVS positions at the end of the previous quarter.
In today’s marketplace, there are dozens of methods shareholders can use to watch Mr. Market. A pair of the best are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can outperform their index-focused peers by a significant margin (see just how much).
Equally as beneficial, bullish insider trading sentiment is another way to parse down the financial markets. Obviously, there are a number of incentives for a corporate insider to cut shares of his or her company, but just one, very obvious reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the impressive potential of this method if piggybackers know where to look (learn more here).
With these “truths” under our belt, it’s important to take a look at the latest action encompassing Advent Software, Inc. (NASDAQ:ADVS).
How are hedge funds trading Advent Software, Inc. (NASDAQ:ADVS)?
At the end of the fourth quarter, a total of 7 of the hedge funds we track were long in this stock, a change of 0% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their stakes considerably.
When looking at the hedgies we track, John H. Scully’s SPO Advisory Corp had the biggest position in Advent Software, Inc. (NASDAQ:ADVS), worth close to $335.9 million, accounting for 5.3% of its total 13F portfolio. Coming in second is Israel Englander of Millennium Management, with a $4.4 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and John Overdeck and David Siegel’s Two Sigma Advisors.
Because Advent Software, Inc. (NASDAQ:ADVS) has faced bearish sentiment from hedge fund managers, we can see that there were a few fund managers that elected to cut their full holdings last quarter. Interestingly, Paul Tudor Jones’s Tudor Investment Corp said goodbye to the largest position of the 450+ funds we key on, totaling about $0.4 million in stock.. Peter Rathjens, Bruce Clarke and John Campbell’s fund, Arrowstreet Capital, also dropped its stock, about $0.3 million worth. These moves are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading Advent Software, Inc. (NASDAQ:ADVS)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has experienced transactions within the past six months. Over the latest six-month time period, Advent Software, Inc. (NASDAQ:ADVS) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Advent Software, Inc. (NASDAQ:ADVS). These stocks are Synchronoss Technologies, Inc. (NASDAQ:SNCR), NIC Inc. (NASDAQ:EGOV), RealPage, Inc. (NASDAQ:RP), Progress Software Corporation (NASDAQ:PRGS), and Manhattan Associates, Inc. (NASDAQ:MANH). This group of stocks are the members of the application software industry and their market caps are closest to ADVS’s market cap.