Governors Lane Lp adds Cvent Inc (CVT) to its portfolio

Cvent Inc (CVT) : Governors Lane Lp added new position in Cvent Inc during the most recent quarter end. The investment management firm now holds 540,000 shares of Cvent Inc which is valued at $17,458,200 , the company said in a statement filed on Aug 15, 2016 with the SEC.Cvent Inc makes up approximately 2.59% of Governors Lane Lp’s portfolio.

Other Hedge Funds, Including , A.r.t. Advisors sold out all of its stake in CVT during the most recent quarter. The investment firm sold 15,210 shares of CVT which is valued $491,739.Geode Capital Management boosted its stake in CVT in the latest quarter, The investment management firm added 10,090 additional shares and now holds a total of 162,706 shares of Cvent Inc which is valued at $5,260,285. Norges Bank added CVT to its portfolio by purchasing 13,804 company shares during the most recent quarter which is valued at $446,283.Fmr reduced its stake in CVT by selling 6,072,569 shares or 96.5% in the most recent quarter. The Hedge Fund company now holds 220,200 shares of CVT which is valued at $7,119,066. Sg Americas Securities added CVT to its portfolio by purchasing 664,365 company shares during the most recent quarter which is valued at $21,266,324. Cvent Inc makes up approx 0.16% of Sg Americas Securities’s portfolio.

Cvent Inc closed down -0.1 points or -0.31% at $32.58 with 1,06,552 shares getting traded on Thursday. Post opening the session at $32.68, the shares hit an intraday low of $32.39 and an intraday high of $32.695 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Cvent Inc reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.08. The company had revenue of $48.40 million for the quarter, compared to analysts expectations of $47.81 million. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

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 Company’s 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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