Soros loads up on banks, cloud-based software companies

Pegasystems Inc

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Information Technology : Software | Mid Cap Growth

Company profile

Pegasystems Inc. develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications. Its applications and platform intersect with and encompass several traditional software markets, including Customer Relationship Management (CRM); Business Process Management (BPM); Business Rules Management Systems (BRMS); Dynamic Case Management (DCM); Decision Management, which includes Predictive and Adaptive analytics, and the Vertical Specific Software (VSS) market of industry solutions and packaged applications. It provides implementation, consulting, training, technical support and hosting services to facilitate the use of its software. The Company offers its services to financial, healthcare, insurance, manufacturing, life sciences and other markets.

Soros loads up on banks, cloud-based software companies

5:20 pm ET August 14, 2020 (MarketWatch) Print

Billionaire George Soros showed interest in big banks and cloud-computing companies in the second quarter, according to a filing with the Securities and Exchange Commission. In the quarter ended June 30, Soros Fund Management added a new 1.2 million-share position in Bank of America Corp. (BAC), a new 515,000-share position in Citigroup Inc. (C), a new 258,000-share position in J.P. Morgan Chase (JPM), a new 582,000-share position in Morgan Stanley (MS), a new 217,000-position in PNC Financial Services Group Inc. (PNC), and a new 762,000-share position in Wells Fargo & Co. (WFC). Soros also added a new 69,000-share position in CrowdStrike Holdings Inc. (CRWD), and new positions of about half that size in DataDog Inc. (DDOG), Palo Alto Networks Inc. (PANW), Zendesk Inc. (ZEN), Splunk Inc. (SPLK), and Zscaler Inc. (ZS). Soros eliminated his positions in Walt Disney Co. (DIS) and Boeing Co. (BA). Notably, he also sold off almost all of his 2 million stake in Inovio Pharmaceuticals Inc. (INO), and trimmed his 3-million stake in Peloton Interactive Inc. (PTON) to 509,000 shares.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 14, 2020 17:20 ET (21:20 GMT)