Qlik up strongly after activist Elliott discloses stake

|About: Qlik Technologies Inc. (QLIK)|By:, SA News Editor

Elliott Associates, which has a long track record of taking activist positions in tech companies, has disclosed an 8.88% stake in Qlik Technologies (QLIK +5.7%). (13D filing)

Elliott: "The Reporting Persons believe the securities of the Issuer are significantly undervalued. The Reporting Persons believe the Issuer operates in a highly strategic area of the technology industry with an attractive competitive position and a compelling product set, the value of which is not reflected in the Issuer's current market value. The Reporting Persons believe there are strategic and operational opportunities for the Issuer that would meaningfully increase value to shareholders and have initiated a dialogue with the Issuer's Management and Board of Directors (the "Board") regarding those opportunities."

The disclosure comes three weeks after the BI/data visualization software firm sold off in response to a Q4 miss and soft Q1/2016 guidance.

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