P.A.W Capital’s Long-term Technology Picks Stole The First Quarter

Wright’s holding of IGATE Corp (NASDAQ:IGTE) in his fund dates back to the first quarter of 2010. An increase of 4% in the stake during the last quarter took the firm’s exposure to the New Jersey-based integrated technology and operations solutions provider to 120,000 shares valued at $5.12 million. IGATE Corp (NASDAQ:IGTE)’s stock has risen by 20.2% year-to-date, outpacing the IT services industry, which has gained 6.01% during the same time, according to Morningstar data. IGATE reported an improvement in gross margins to 35.1% in the first quarter as compared to 34.8% in the previous quarter, though margins declined from the 37.5% they stood at in the same quarter a year ago. Lee Munder‘s Lee Munder Capital Group held nearly 106,900 shares of IGATE Corp (NASDAQ:IGTE) at the end of the fourth quarter.

Allot Communications Ltd (NASDAQ:ALLT) represented the fund’s top pick in the telecommunication services sector with its holding of 490,000 shares valued at $4.31 million. The $984 million provider of broadband solutions became a part of the fund’s equity portfolio in the second quarter of 2013. Allot Communications Ltd (NASDAQ:ALLT)’s stock hasn’t fared so well this year, sliding by about 15% year-to-date. Although the first quarter EPS of $0.09 beat estimates by $0.02, revenues of $29.53 million came in $0.26 million lighter than expected. Mark N. Diker‘s Diker Management has placed a bet on Allot Communications Ltd (NASDAQ:ALLT) to the tune of 1.53 million shares according to the fund’s latest filing.

P.A.W Capital’s fifth largest equity stake is in Lifelock Inc (NYSE:LOCK), which has unfortunately been another loser this year, as the stock is down by about 17% year-to-date. The holding was comprised of 200,000 shares valued at $2.82 million. In its first quarter financial results, the provider of proactive identity theft protection services posted the best figures for new member acquisitions in its history. This was partly fueled by the data breach of insurance company Anthem Inc (NYSE:ANTM) in February, which affected about 80 million people. Lifelock Inc (NYSE:LOCK) is currently trading at a forward earnings multiple of 16.95. Citadel Investment Group, the renowned managed futures fund, held about 1.65 million shares of Lifelock Inc (NYSE:LOCK) at the end of 2014.

Disclosure: None