, Columnists
Activists Target Software's Big Spenders
Splurges on sales and marketing and cheap valuations act as a magnet for change-seeking investors.
This article is for subscribers only.
Activist investors determined to walk their own path have found a place to stretch their legs in solitude, even if it's only in one corner of the market.
By targeting unloved software companies Qlik Technologies, Autodesk and Cornerstone OnDemand, the likes of Elliott Management, Sachem Head Capital Management and Praesidium Investment Management have been broadly able to avoid copycat bets that have plagued the returns of their rivals. (Elliott disclosed its stake in Qlik just last week.)