Avigilon climbs after adding Hewlett Packard exec Herndon

Shares of Avigilon (Avigilon Stock Quote, Chart, News: TSX:AVO) are up today after the company announced it has added former Hewlett Packard exec Margaret Herndon to the role vice-president of global marketing and communications.

Herndon held several roles at HP over the course of a decade with the company. Most recently, she worked as VP of global industry marketing, which targeted C-Suite managers.

“Compelling, creative marketing is key to our future growth and success,” said COO Bryan Schmode. “I am very pleased to welcome Margaret Herndon to lead our marketing organization. Her entrepreneurial approach is a great fit for Avigilon, and I am confident that her extensive marketing experience – from both start-up and Fortune 50 companies – and proven track record leading global teams will help take our business to the next level.”

After more than two years as a market darling following its 2011 IPO, Avigilon shares have had a rocky 2014. The company’s stock has fallen nearly in half from its January high of $34.00. One portfolio manager, however, thinks the may have actually transitioned its investment profile from growth to value.

Agilith Capital’s Patrick Horan thinks Avigilon, whose recent Q2 topline was 66% better than the same period a year prior, is cheap.

“This company has more organic growth than I see in the Canadian space in general,” said Horan on a recent BNN appearance. “I don’t see any other stock growing like these guys. This is a case where it had “momentumitis”, now no one wants to hold it,” he added. It’s a very good time to own it, as far as we’re concerned”.

At press time, shares of Avigilon were up 4.1% to $14.63.

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