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Cvent
Type
Private
Industry Software for events, conferences, and meetings
Founded 1999
Founder
  • Reggie Aggarwal
Headquarters Tysons Corner, Virginia, United States
Key people
Reggie Aggarwal (CEO)
Owner Vista Equity Partners
Number of employees
2,500+
Website www.cvent.com

Cvent, Inc. is a privately held software-as-a-service (SaaS) company that specializes in meetings management technology. The company offers web-based software for meeting site selection, online event registration, event management, email marketing, and web surveys. The company is owned by private equity firm Vista Equity Partners.

Cvent was founded in September 1999 by Reggie Aggarwal. That same year it received $17 million in venture capital and grew its staff to 125 employees. Following the dot-com bubble burst and the September 11 attacks, Cvent faced near-bankruptcy and was forced to cut 80% of its staff.

The company became profitable again by 2003. In 2011, Cvent was growing by 50% a year and received $136 million of funding from New Enterprise Associates in July 2011, which, at the time, was the largest investment in a U.S. software company since 2007.

In 2012, the firm entered the mobile market by acquiring two event application developers. On June 13, it announced acquisition of Austin-based startup Seed Labs, recently rebranded as CrowdTorch, for $4.2 million. Seven days later, it announced its acquisition of Portland-based application developer CrowdCompass for $10 million. CrowdTorch develops mobile applications for consumer-oriented events and CrowdCompass develops mobile applications for business-related events.Cvent filed an S-1 with the U.S. Securities and Exchange Commission on July 8, 2013, proposing an initial public offering of 5.6 million shares. It went public on the New York Stock Exchange on August 9, 2013, at an initial price of $21. The company raised $117.6 million and received a market capitalization of more than a billion dollars. The IPO was referenced in regards to its use of the JOBS Act, which enabled the company to quickly offer an IPO.

In 2016, the company was acquired by venture capital company Vista Equity Partners for $USD1.65 billion.

In July 2000 Cvent introduced its first SaaS product, a web-based tool for event planners to manage invitations and collect registration fees. In 2006, it introduced a product for conducting online surveys, which was followed by the introduction of the Cvent Supplier Network two years later. The Supplier Network is a free, online marketing place that connects meeting planners with venues and services. In 2009, the company began offering professional services.

An app development tool, CrowdTorch, was launched in 2009. Cvent also produces a Destination Guide, a free, online, 8,000-page travel guide designed for meeting planners with information about 800 different destinations. A "Strategic Meetings Management" helps users manage budgets.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2017 2017-05-10 Future report Set alerts
Q4 2016 2017-02-23 Future report Set alerts
Q3 2016 2016-11-02 0.09 -0.13
Q2 2016 2016-08-05 0.05 -0.13
Q1 2016 2016-05-05 0.07 -0.03
Q4 2015 2016-02-25 0.18 -0.28
Q3 2015 2015-11-04 0.16 0.02
Q2 2015 2015-08-06 0.05 -0.14
Q1 2015 2015-05-11 0.04 -0.06
Q4 2014 2015-02-27 0.03 -0.05

Ratings

2016-05-09 Downgrade JMP Securities Outperform to Market Perform
2016-04-19 Downgrade Needham & Company LLC Buy to Hold
2016-04-19 Downgrade William Blair Outperform to Market Perform
2016-04-18 Downgrade Stifel Nicolaus Buy to Hold
2016-04-08 Initiated Coverage William Blair Outperform
2016-02-23 Lower Price Target Needham & Company LLC Buy $38.00 to $30.00
2015-12-08 Boost Price Target Pacific Crest Overweight $35.00 to $43.00
2015-09-10 Downgrade Morgan Stanley Equal Weight to Underweight $29.00
2015-07-07 Initiated Coverage JMP Securities Outperform $36.00
2014-05-15 Reiterated Stifel Buy $45 to $40
2014-05-15 Reiterated Needham Buy $48 to $38
2014-05-15 Lower Price Target Goldman Sachs $43.00 to $37.00
2014-05-15 Lower Price Target Pacific Crest Outperform $46.00 to $30.00
2014-05-15 Lower Price Target Needham & Company LLC Buy $48.00 to $38.00
2014-05-15 Reiterated Rating Stifel Nicolaus Buy $45.00 to $40.00
2013-09-17 Boost Price Target Pacific Crest Outperform $40.00 to $46.00
2013-09-17 Boost Price Target Stifel Nicolaus Buy $41.00 to $45.00
2013-09-03 Initiated Needham Buy $42
2016-05-09 Downgrade JMP Securities Outperform to Market Perform
2016-04-19 Downgrade Needham & Company LLC Buy to Hold
2016-04-19 Downgrade William Blair Outperform to Market Perform
2016-04-18 Downgrade Stifel Nicolaus Buy to Hold
2016-04-08 Initiated Coverage William Blair Outperform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In CVT 2 funds of 2184 total. Show all

Fund name Ticker shares
MANAGED ACCOUNT ADVISORS LLC 82267
SHAPIRO ROBERT N 10

Major Shareholders

Name Relationship Total Shares Holding stocks
Insight Venture Associates VII, L.P. 12.90%  (5454727) CVT /
Insight Venture Partners VII, L.P. 9.76%  (4125810) CVT /
NEW ENTERPRISE ASSOCIATES 13 LP 9.45%  (3994106) CLVS / CRCM / CVT / EPZM / GLYC / HIVE / ROKA / TSRO /
BANSAL SANJU K 5.74%  (2428236) ABCO / CSRA / CVT / MSTR /
Aggarwal Rajeev K. Chief Executive Officer 4.71%  (1991533) CVT /
Lieberman Jeffrey 4.34%  (1837118) CVT / SSTK /
Aggarwal Manjula SVP, Client Services 1.57%  (663098) CVT /
Quattrone David C. Chief Technology Officer 1.57%  (662980) CVT /
Sye Dwayne J. Chief Information Officer 0.95%  (399926) CVT /
Ludwig Brian SVP, Sales 0.44%  (186028) CVT /
Malhotra Bharet SVP, Sales 0.29%  (122766) CVT /
Ghoorah Charles V. EVP, Sales & Marketing 0.19%  (81592) CVT /
RUSSO CYNTHIA A Chief Financial Officer 0.08%  (32508) CVT / MCRS / PAR /
Samuelson Lawrence General Counsel, Corp. Secy. 0.04%  (16403) CVT /
PARKER KEVIN T 0.03%  (13964) CVT / PLCM /
Childs Peter L Chief Financial Officer 0.01%  (5500) CVT /
BARRETT M JAMES 0.01%  (2639) ADNC / ARDX / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FOLD / GLYC / HIVE / HPTX / INWK / LOXO / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WIFI / XOOM / ZSAN /
BARRIS PETER J 0.01%  (2639) ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / GLYC / GRPN / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WIFI / XOOM / ZHNE /
SANDELL SCOTT D 0.01%  (2639) ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FIO / GLYC / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TRGT / TSRO / VTAE / WDAY / WIFI / XOOM /
BASKETT FOREST 0.01%  (2639) ABIO / ADNC / AKAO / ARDX / AVEO / CLVS / CRCM / CVT / DATA / ECHO / EPZM / FIO / HIVE / HPTX / INWK / LOXO / ONTY / ROKA / SNSS / SUPN / SURF / SYBX / TSRO / XOOM /

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