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Business Technology

Vocus CEO buys $1 million worth of company stock

Just last month, I wrote about how Vocus Inc., a Beltsville-based digital marketing technology firm, was hiring hundreds of people this year and next year as it sought to increase its share of the social meda/PR/marketing industry.

The firm's CEO and cofounder, Rick Rudman, was understandably bullish in the article about his company's prospects, as they ramp up in their investments to gain market share.

Now, Rudman has put his own money on the line, too. He recently purchased 70,000 shares of Vocus stock -- or more than $1 million worth -- to add to the 715,000 shares he owns. Rudman and his executive team have made big stock purchases before this year, according to CityBizList.

Vocus designs and sells cloud-based software that helps businesses with public relations, digital marketing and the fast-growing area of social media marketing.

Tom Roderick, a Stifel Nicolaus & Co. analyst who follows Vocus (and whom I've interviewed before) said in this Reuters report: "We have seen Mr. Rudman make a couple purchases of stock in the open market earlier this year at prices less than $16, and such insider buying is typically viewed by investors as a bullish sign."

Copyright © 2014, The Baltimore Sun
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