Shares of CVENT (CVT) Sees Large Outflow of Money

CVENT (CVT) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($20.05 million) and the uptick to downtick ratio was 0.04. The transaction value on upticks was $0.81 million and on downticks, the transaction value was $20.85 million. The transaction value of block trades during downticks was $19.92 million. The money flow was negative ($19.92 million), indicating the traders were booking profit on the price strength. CVENT (CVT) rose $0.01 at $34.21, during intraday Wednesday , a rise of 0.01% over the previous days close.


Also, In a research note released to the investors, JMP Securities downgrades its rating on CVENT (NYSE:CVT).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on May 9, 2016.

CVENT (NYSE:CVT): The stock opened at $34.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $34.50 for the day. The stock traded down to $33.85 during the day, due to lack of any buying support eventually closed down at $34.04 with a loss of -0.47% for the day. The stock had closed at $34.20 on the previous day. The total traded volume was 1,080,707 shares.

The stock has recorded a 20-day Moving Average of 2.95% and the 50-Day Moving Average is 4.03%. In a related news, Quattrone David C., officer (Chief Technology Officer) of Cvent Inc, unloaded 4,000 shares at an average price of $22 on April 8, 2016. The total amount of the transaction was worth $88,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Cvent, Inc. is a cloud-based enterprise event management platform. The Company provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, and hotels and venues. The Companys integrated, cloud-based solution is used in the entire event lifecycle by allowing event and meeting planners to organize, market and manage their meetings, conferences, tradeshows and other events. Its hospitality cloud provides hotels and venues with a solution suite to generate, manage and measure their demand for group meetings. For the event and meeting planner side of the value chain, which includes corporations, associations, not-for-profits, Government agencies and universities, and events and meetings? It offers six product categories, which include event management software, enterprise solutions software, mobile event apps, pre- and post-event feedback management software, ticketing software and the Hospitality Cloud, which includes CSN.

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