RGM Capital slashed its stake in Callidus Software Inc. (NASDAQ:CALD) by 24% in the third quarter, ending the period with 1.92 million shares of the company. The total value of the updated stake was $35.22 million at the end of September. The position was one of the few disappointments for the fund, as it lost 8.2% during the third quarter. At the end of the second quarter, a total of 19 of the hedge funds in our system were long this stock, a 17% drop from one quarter earlier. Renaissance Technologies, Portolan Capital Management, Driehaus Capital, and Venator Capital Management were some of the other shareholders of Callidus Software Inc. (NASDAQ:CALD).
Lastly, RGM Capital sold off 10% of its Blackbaud, Inc. (NASDAQ:BLKB) shares during the third quarter, heading into the fourth quarter with 597,354 shares of the company worth $39.63 million. The stock also had a less than stellar quarter, dipping by 2.1% during the period. At Q2’s end, 10 hedge funds that we follow were long this stock, a 33% decline from the previous quarter. Among these funds, Select Equity Group held the most valuable stake in Blackbaud, Inc. (NASDAQ:BLKB), which was worth $64.5 million at the end of the second quarter. Moreover, Royce & Associates, Marshall Wace LLP, and Renaissance Technologies were also bullish on Blackbaud, Inc. (NASDAQ:BLKB).