George Soros has increased his stake in ClickSoftware Technologies Ltd. (Nasdaq: CKSW). In a filing with the US Securities and Exchange Commission (SEC), hedge fund Soros Fund Management disclosed that it increased its stake in Clicksoftware to 1,490,366 shares, for a 4.87% holding.
Soro Fund Management owned 1,378,666 ClickSoftware shares at the end of June. In the past ten trading days, it sold several tens of thousands of shares. Like the market in general, ClickSoftware has been on a rollercoaster. The share price fell to a six-month low of $7.43 two weeks ago, rose 25% to $9.43, and fell back to $8.44 on Friday, giving a market cap of $261 million. Although the current share price is up 54% for the year, is down 21% from its $10.70 peak reached in May.
Soros's holding - almost amounting to a party at interest - may help stabilize ClickSoftware's share price, or even drive it up. Soros and Warren Buffett are considered Wall Street's top two investors, and many small investors follow their lead. Soros Fund Management manages $7.1 billion and has invested in 587 companies.
A "Globes" review found that Soros Fund Management also has a 6.7% stake in Comverse Technology Inc. (Pink Sheets: CMVT), and small investments in Amdocs Ltd. (NYSE: DOX), Sodastream International Ltd. (Nasdaq: SODA), and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).
Published by Globes [online], Israel business news - www.globes-online.com - on August 21, 2011
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