Software as a Service Stocks Rise 3 Consecutive Weeks
Software as a Service (SaaS) stocks are showing some strength, climbing three consecutive weeks. In the latest winning round, our SaaS 20 Stock Index climbed a modest 1.28 percent for the week ended Dec. 12.
The index’s big weekly winners included SuccessFactors Inc. (SFSF, +23.95%) and Kenexa Corp. (KNXA, +18.40%). There were also some big weekly losers, including Salary.com (SLRY, -24.24%) and Vocus Inc. (VOCS, -20.25%). Here’s some more background on each company.
The SaaS 20 Stock Index‘s two biggest weekly winners:
- SuccessFactors Inc.: Argus upgraded shares in the company on December 4. And EMPO Corp., an HR outsourcing firm, has agreed to offer SuccessFactors’ talent management software to businesses with 10 to 500 employees.
- Kenexa Corp.: The HR software company was name to Deloitte’s Fast 500 list of North America’s fastest growing companies.
And the index’s two biggest weekly losers:
- Salary.com: The on-demand talent management software company has surpassed 3,000 customers. But the company’s decision to acquire Genesys Software Systems Inc. — another HR-focused software company — dragged down Salary.com’s stock.
- Vocus: The maker of on-demand PR software has seen its shares tumble sharply since announcing record Q3 results in late October.
Although the SaaS 20 Stock Index has climbed for three consecutive weeks, the index is still down more than 45 percent since the start of 2008.