ClickSoftware Surges Most Since 2003 on Early Earnings

ClickSoftware Technologies Ltd. (CKSW), the Israeli developer whose largest investor is George Soros’s fund, jumped the most in a decade in New York after reporting preliminary fourth-quarter revenue that beat analyst estimates.

Shares of the Petach Tikva, Israel-based company increased 27 percent to $9.20 at 10:09 a.m. in New York, the most since July 2003. The stock sank 11 percent last year.

ClickSoftware said sales for the three months ended December will reach about $30.5 million, above its previous forecast of $26 million to $28 million and surpassing the $26 million mean estimate of two analysts surveyed by Bloomberg. The company added 19 new customers during the fourth quarter, 10 of which are cloud computing customers, according to a PRNewswire statement today.

“It appears as if the transition toward ClickSoftware’s cloud-related solutions is seeing fruition,” Shaul Eyal, a New York-based analyst at Oppenheimer & Co., wrote in an e-mailed report today. “Today’s announcement could set the stage for an utterly different year.”

Soros Fund Management LLC owns a 9.9 percent stake in ClickSoftware, according to a regulatory filing as of Sept. 30. With a net worth of $23 billion, Soros is the 32nd-richest person in the world, according to the Bloomberg Billionaire Index. He made $1 billion betting against the British pound in 1992.

To contact the reporter on this story: Elena Popina in New York at

To contact the editor responsible for this story: Tal Barak Harif at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.