![computer programmers working on new code](https://www.investorrelations.com/wp-content/uploads/2023/06/GettyImages-616902766_2x1R.jpg)
A significantly underfollowed software company engaged SMA to attract sell-side coverage and increase buy-side visibility. Our focused targeting strategy, coupled with a well-attended Investor Day, helped to quadruple the company’s analyst coverage and double institutional ownership.
Client Challenge
Low profile on Wall Street
Cutting-edge products, skyrocketing revenue and a visionary management team were not enough to help a newly public developer of CRM software attract Wall Street attention.
A year after its IPO, the company lagged peers in both the number of covering analysts and the percentage of institutional ownership as a percentage of available float. The company sought SMA’s help in gaining parity.
![businesswoman using a computer during a late night at work](https://www.investorrelations.com/wp-content/uploads/2023/06/GettyImages-838089884-1.jpg)
![Two businesswomen working together on a digital tablet and laptop in an office](https://www.investorrelations.com/wp-content/uploads/2023/06/GettyImages-1394348691-1.jpg)
The Sharon Merrill Advantage
Aggressive outreach to investors
SMA launched an integrated investor relations campaign designed to attract long-oriented investors and broaden the company’s sell-side coverage. We set a 12-month goal of setting up at least 75 meetings in key U.S. money centers, increasing sell-side coverage from four to seven, and securing the attendance of 75 investors and analysts at the company’s inaugural Investor Day in Boston.
Results
Increased sell-side coverage and institutional ownership
SMA’s campaign resulted in more than 150 one-on-one meetings across key U.S. money centers over the ensuing year, with institutional ownership climbing from 57 firms to 122. Sell-side coverage increased from four to 18, and 121 investors attended the company’s Investor Day, which garnered rave reviews.