Wedge Capital Management L L P NC Takes Position in SciQuest, Inc. (SQI)
Wedge Capital Management L L P NC acquired a new position in shares of SciQuest, Inc. (NASDAQ:SQI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 327,069 shares of the company’s stock, valued at approximately $19,084,000. Wedge Capital Management L L P NC owned 1.18% of SciQuest as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy Michael R boosted its stake in SciQuest by 20.1% in the first quarter. Murphy Michael R now owns 1,797,010 shares of the company’s stock worth $24,942,000 after buying an additional 300,825 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in SciQuest by 8.3% in the first quarter. Kennedy Capital Management Inc. now owns 693,226 shares of the company’s stock worth $9,622,000 after buying an additional 53,082 shares in the last quarter. Kassirer Asset Management Corp bought a new stake in SciQuest during the second quarter worth approximately $3,650,000. Candriam Luxembourg S.C.A. bought a new stake in SciQuest during the second quarter worth approximately $2,649,000. Finally, Havens Advisors LLC bought a new stake in SciQuest during the second quarter worth approximately $1,890,000.
SciQuest, Inc. (NASDAQ:SQI) traded up 0.000% during trading on Friday, reaching $17.745. The stock’s 50-day moving average is $17.68 and its 200 day moving average is $14.48. SciQuest, Inc. has a 52-week low of $9.49 and a 52-week high of $17.81.
Separately, Raymond James Financial Inc. cut shares of SciQuest from an “outperform” rating to a “market perform” rating and set a $19.50 target price for the company. in a research note on Friday, June 24th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. SciQuest presently has an average rating of “Hold” and a consensus target price of $17.08.
SciQuest Company Profile
SciQuest, Inc is a United States-based public provider of spend management solutions. The Company’s offers a range of solutions, such as Spend Director, Spend Radar, Sourcing Director, Advanced Sourcing Optimizer, Total Contract Manager, Total Supplier Manager, Enterprise Reagent Manager, Accounts Payable Director, Supplier Network and Portfolio Savings Manager.
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