Led by Salary.com, the SaaS 20 Stock Index, which tracks the software as a service market, has posted one of its strongest showings this year. The index rose 3.30% for the week ended August 1 -- easily beating one-week performances for the Dow (down 0.5%) and the S&P 500 (up .02%).
The SaaS 20 Stock Index's biggest weekly winners were:
- Salary.com (SLRY, +22.73%)
- Websense Inc. (WBSN, +16.20%)
- Concur Technology Inc. (CNQR, +14.45%)
- Taleo Corp. (TLEO, +13.95%) and
- RightNow (RNOW, +12.25%)
Here's a closer look at some of the weekly trends.
- Salary.com shares jumped sharply because the company announced Q1 revenue results that were "at the upper end of guidance," noted CEO Ken Plunkett in a prepared statement. Indeed, Q1 revenue jumped 33 percent compared to the corresponding quarter last year. Salary.com specializes in on-demand "compensation and talent management solutions" -- a fancy way of saying they're a Web 2.0 HR company.
- Concur, Taleo, Websense, and also announced strong results.
- Perhaps most importantly, RightNow delivered strong results. The company is a true pure-play SaaS organization -- and is considered a bellwether for the SaaS industry.
In early July, our SaaS 20 Stock Index had been down roughly 20% for the year, but a multi-week rally has helped to trim the index's year-to-date loss to around 13%.