Is ClickSoftware Technologies Ltd. (NASDAQ:CKSW) the right pick for your portfolio? The best stock pickers are getting less optimistic. The number of long hedge fund bets were trimmed by 1 in recent months.
In the 21st century investor’s toolkit, there are plenty of indicators investors can use to watch the equity markets. A pair of the most underrated are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the elite investment managers can outpace the market by a healthy margin (see just how much).
Equally as key, bullish insider trading sentiment is a second way to parse down the investments you’re interested in. Obviously, there are a variety of incentives for an upper level exec to drop shares of his or her company, but only one, very simple reason why they would buy. Many empirical studies have demonstrated the impressive potential of this strategy if “monkeys” know where to look (learn more here).
Now, we’re going to take a glance at the latest action encompassing ClickSoftware Technologies Ltd. (NASDAQ:CKSW).
What does the smart money think about ClickSoftware Technologies Ltd. (NASDAQ:CKSW)?
Heading into Q2, a total of 6 of the hedge funds we track were long in this stock, a change of -14% from the previous quarter. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their holdings meaningfully.
When looking at the hedgies we track, George Soros’s Soros Fund Management had the biggest position in ClickSoftware Technologies Ltd. (NASDAQ:CKSW), worth close to $25.2 million, accounting for 0.3% of its total 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $6.2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include D. E. Shaw’s D E Shaw, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.
Because ClickSoftware Technologies Ltd. (NASDAQ:CKSW) has experienced declining sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of hedge funds that slashed their full holdings at the end of the first quarter. At the top of the heap, Matthew Hulsizer’s PEAK6 Capital Management dumped the largest position of all the hedgies we watch, valued at close to $0.9 million in stock.. Matthew Hulsizer’s fund, PEAK6 Capital Management, also cut its call options., about $0.1 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 1 funds at the end of the first quarter.
How have insiders been trading ClickSoftware Technologies Ltd. (NASDAQ:CKSW)?
Insider buying is at its handiest when the company we’re looking at has experienced transactions within the past six months. Over the last half-year time frame, ClickSoftware Technologies Ltd. (NASDAQ:CKSW) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to ClickSoftware Technologies Ltd. (NASDAQ:CKSW). These stocks are ModusLink Global Solutions, Inc. (NASDAQ:MLNK), Support.com, Inc. (NASDAQ:SPRT), Vocus, Inc. (NASDAQ:VOCS), Keynote Systems, Inc. (NASDAQ:KEYN), and QuinStreet Inc (NASDAQ:QNST). All of these stocks are in the internet software & services industry and their market caps are closest to CKSW’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|ModusLink Global Solutions, Inc. (NASDAQ:MLNK)||6||1||0|
|Support.com, Inc. (NASDAQ:SPRT)||11||1||4|
|Vocus, Inc. (NASDAQ:VOCS)||12||3||4|
|Keynote Systems, Inc. (NASDAQ:KEYN)||7||0||4|
|QuinStreet Inc (NASDAQ:QNST)||7||0||0|
With the results shown by the aforementioned studies, retail investors must always keep an eye on hedge fund and insider trading activity, and ClickSoftware Technologies Ltd. (NASDAQ:CKSW) applies perfectly to this mantra.