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Kerrisdale Capital Betting On A Turnaround With 5 New Tech Positions

Tech Data Corp (NASDAQ:TECD)

– Shares Owned by Kerrisdale Capital (as of June 30): 39,044

– Value of Holding (as of June 30): $2.80 Million

Moving on, Tech Data Corp (NASDAQ:TECD) was Kerrisdale Capital’s 27th-largest equity holding in terms of value at the end of June. Though the stock of the technology products wholesaler has been extremely volatile over the last year, it has been making new highs routinely during that time and is currently trading up by 21.07% in 2016. Several analysts feel that Tech Data Corp (NASDAQ:TECD) is one of the better-managed technology distribution companies and that its stock is worth owning. However, they are also of the view that the stock has appreciated significantly over the past few months and that investors should wait for a pullback for a better entry price. The company recently hired Bob Kruger, former CEO of Apakau, Inc., as the Vice President of its rapidly growing StreamOne platform. Tech Data Corp is expected to report its second quarter earnings later this week and the current consensus is for it to report EPS of $1.43 on revenue of $6.64 billion. For the same quarter of the previous year, the company had reported nearly identical figures of $1.43 EPS on revenue of $6.58 billion. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors also initiated a stake in Tech Data Corp during the second quarter, purchasing 17,503 shares of the company.

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SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)

– Shares Owned by Kerrisdale Capital (as of June 30): 333,506

– Value of Holding (as of June 30): $9.36 Million

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock has appreciated by 12% since the end of the second quarter, following Kerrisdale Capital initiating a stake in the company during that quarter. However, despite these gains, it is still trading down by an unlucky 7.77% in 2016. In May, the software products and software-enabled services provider announced a two-for-one stock split, to be paid in the form of a stock dividend, which was completed on June 27. For its second quarter, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) recently reported EPS of $0.39 on revenue of $384.4 million, beating estimates of $0.38 in EPS and revenue of $376.85 million. On August 18, the company declared a quarterly dividend of $0.0625 per share, which translates into an annual dividend yield of 0.79%. Jeff Lignelli‘s Incline Global Management boosted its stake in SS&C Technologies significantly during the second quarter, by 150% to almost 1.12 million shares.


– Shares Owned by Kerrisdale Capital (as of June 30): 173,774

– Value of Holding (as of June 30): $15.77 Million

In terms of value, ANSYS, Inc. (NASDAQ:ANSS) was the most valuable tech holding added to Kerrisdale Capital’s portfolio during the second quarter. Shares of the engineering simulation software company are currently trading up by 4.24% year-to-date, owing largely to the spike they experienced after ANSYS, Inc. (NASDAQ:ANSS) reported its second quarter results. While analysts had expected the company to report EPS of $0.88 on revenue of $244.84 million for the quarter, ANSYS pulled in EPS of $0.93 on revenue of $246.10 million. Although the company is facing several headwinds currently, including currency volatility, weakness in overseas markets, and potential spending cuts by customers in cyclical industries, most analysts feel that these are temporary issues and that ANSYS will be able to overcome them. On August 5, analysts at Barclays reiterated their ‘Equal Weight’ rating on the stock while boosting their price target on it to $94 from $86, which represents potential downside of 3.77%. Rob Romero‘s Connective Capital Management also initiated a stake in ANSYS during the second quarter, purchasing  13,030 shares of the company.

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Disclosure: None

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