Saba Software, Inc. (SABA), Agilysys, Inc. (AGYS): Hedge Funds Disclose Latest Moves

Philip Hempleman, the manager of Ardsley Partners, has decided to reduce his exposure to Saba Software, Inc. (OTCMKTS:SABA) and has sold 25,000 shares in one transaction at a price of $13.07 per unit, as reported in a recent Form 4 filing with the Securities and Exchange Commission (SEC). As a result, Ardsley Partners is left holding 3.19 million shares of Saba Software, Inc. (OTCMKTS:SABA). In another move, Daniel J. Donoghue, the manager of Discovery Group, has boosted his investment in Agilysys, Inc. (NASDAQ:AGYS), a provider of software solutions for for the hospitality and retail markets. According to a recent filing with the SEC, the fund has acquired 460,280 shares, taking its investment to 1.19 million shares or 5.2% of Agilysys, Inc. (NASDAQ:AGYS)’s total number of shares outstanding.


P.A.W. Capital Partners is the only other fund we track that has a stake in Saba Software, Inc. (OTCMKTS:SABA). During the second quarter of 2014, Peter A. Wright, the fund’s manager, has boosted their stake by 34% to amass 266,600 shares valued at roughly $3 million. Since the start of the year, the stock has slumped to a low of $9.2 per share in May and has been tending higher since then. With a current price of $13.56 per share, Saba Software, Inc. (OTCMKTS:SABA) has a market cap of $404 million and does not pay a dividend. On September 25, the company and two former executives were charged with accounting fraud involving the falsification of timesheets by the Securities and Exchange Commission. They have allegedly overstated their income by $70 million in the time span between 2007 and 2012 to reach quarterly targets.

Agilysys, Inc. (NASDAQ:AGYS) is also on the radar of Michael Kaufman, the manager of MAK Capital One. Kaufman has made no adjustment to his fund’s stake during the second quarter so MAK Capital One continues to hold approximately 7.05 million shares reportedly worth $99.3 million. Chuck Royce is also keeping an eye, with his fund, Royce & Associates, reporting ownership of roughly 335,700 shares valued at $4.72 million in its latest 13F filing. Hedge fund guru Jim Simons expects the stock to grow and has boosted his fund’s investment by 18%. Renaissance Technologies now holds 37,800 shares worth approximately $533,000.

Disclosure: none.