Micros Systems Jumps After ValueAct Capital Takes 7.5% StakeJames Callan
Micros Systems Inc., a maker of software for the hospitality and retail industries, jumped the most in 18 months after ValueAct Capital Management disclosed a stake in the company.
ValueAct acquired 5.9 million shares, or a 7.5 percent stake, in Columbia, Maryland-based Micros Systems, according to a regulatory filing today.
Micros Systems increased 7.6 percent to $45.87 at the close in New York for the biggest one-day gain since Aug. 26, 2011. The shares had declined 21 percent in the past year through yesterday compared with a 5 percent advance for the Standard & Poor’s Midcap Information Technology Index.