Simplex Trading Lowers stake in Cvent Inc (CVT)

Cvent Inc (CVT) : Simplex Trading reduced its stake in Cvent Inc by 21.95% during the most recent quarter end. The investment management company now holds a total of 57,103 shares of Cvent Inc which is valued at $1,821,015 after selling 16,063 shares in Cvent Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Cvent Inc makes up approximately 0.24% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in CVT by selling 23,185 shares or 90.9% in the most recent quarter. The Hedge Fund company now holds 2,321 shares of CVT which is valued at $73,436.

Cvent Inc opened for trading at $31.51 and hit $32.08 on the upside on Friday, eventually ending the session at $31.89, with a gain of 1.17% or 0.37 points. The heightened volatility saw the trading volume jump to 1,50,528 shares. Company has a market cap of $1,351 M.

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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