SAC Capital Increases Compuware Stake ~ market folly

Wednesday, July 31, 2013

SAC Capital Increases Compuware Stake

The charges surrounding SAC Capital haven't stopped them from their daily activities.  Steve Cohen's hedge fund firm has filed a 13G with the SEC regarding shares of Compuware (CPWR).  Per the filing, SAC has disclosed a 5.1% ownership stake in CPWR with 10,793,571 shares.

This is around a 125% increase in the number of shares owned since the end of the first quarter.  The filing was required due to portfolio activity on July 29th.

Per Google Finance, Compuware "provides software solutions (both on-premises and Software-as-a-Service (SaaS) models), professional services and application services. It delivers solutions through software, which is installed and run on its customers’ owned hardware and applications (on-premises) and through a SaaS model accessed through its hosted networks. It also offers professional technical services in areas, such as mobile application development, performance engineering and system modernization. The Company operates in six business segments: Application Performance Management (APM), Mainframe, Changepoint, Uniface, Professional Services and Covisint Application Services (Covisint)."

Cohen was one of the top 10 highest paid hedge fund managers in 2012.

blog comments powered by Disqus