Murphy Michael R buys $23.5 Million stake in SciQuest (SQI)

SciQuest (SQI) : Murphy Michael R scooped up 300,825 additional shares in SciQuest during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,797,010 shares of SciQuest which is valued at $23.5 Million.SciQuest makes up approximately 8.03% of Murphy Michael R’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in SQI in the latest quarter, The investment management firm added 92,500 additional shares and now holds a total of 783,900 shares of SciQuest which is valued at $10.3 Million. SciQuest makes up approx 0.02% of Renaissance Technologies’s portfolio.Blackrock Group Ltd boosted its stake in SQI in the latest quarter, The investment management firm added 3,527 additional shares and now holds a total of 71,611 shares of SciQuest which is valued at $937,388.Manufacturers Life Insurance Company The reduced its stake in SQI by selling 680 shares or 3.5% in the most recent quarter. The Hedge Fund company now holds 18,771 shares of SQI which is valued at $245,712.First Mercantile Trust Co reduced its stake in SQI by selling 210 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 7,170 shares of SQI which is valued at $99,089. SciQuest makes up approx 0.01% of First Mercantile Trust Co’s portfolio. State Of New Jersey Common Pension Fund D sold out all of its stake in SQI during the most recent quarter. The investment firm sold 310,000 shares of SQI which is valued $4.3 Million.

SciQuest closed down -0.19 points or -1.44% at $13.04 with 91,947 shares getting traded on Wednesday. Post opening the session at $13.27, the shares hit an intraday low of $12.98 and an intraday high of $13.36 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, SciQuest reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.08. The company had revenue of $26.90 million for the quarter, compared to analysts expectations of $26.81 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

SciQuest Inc. provides cloud-based business automation solutions for spend management. The Company’s offers procurement solutions that automate the source-to-settle process; spend analysis solutions that cleanse and classify spend data to drive and measure cost savings; supplier management solutions that facilitate its customers’ interactions with their suppliers; contract lifecycle management solutions that automate the contract lifecycle from contract creation through maintenance and accounts payable solutions that automate the invoice processing and vendor payment processes. The Company’s SciQuest Supplier Network is Software-as-a-Service (SaaS) communications hub that enables transaction interactions between its customers and their suppliers through its procurement accounts payable and supplier management solutions. It is the single integration point between its customers and their suppliers that provides customers with supplier information including supplier catalogs.

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