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 epopina@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at tbarak@bloomberg.net

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