Justin Kuepper from SECInvestor.com reports:

Agile Software Corporation (NDAQ:AGIL) shares moved up $0.24, or 3.34%, to $7.43 today after the company announced the date of its annual shareholders meeting in a Schedule 14A proxy filing with the SEC. Normally this isn't such big news, but in Agile's case this year's June 20th annual meeting promises to be like no other!

Agile Software has been engulfed in a month-long battle with activist hedge fund manager Robert Chapman, who has been pushing for a sale of the company. And he is not alone - Shamrock Activist Value Fund also voiced its support for the idea along with other large institutional investors.

The two hedge funds are concerned that independent software companies focusing on the product lifecycle management industry cannot compete against their larger rivals. Consequently, a sale of the company may be the only viable option for investors concerned over slow revenue growth and narrowing profit margins.

Agile has reportedly hired Citigroup to help it explore its strategic options, but some investors worry that they may use their large cash position to make an acquisition rather than auction itself off. This is why many large investors are going to be carefully watching the company during its annual meeting this year, hoping to get an idea of where they plan on taking the company.

Meanwhile, Chapman hinted that he would outline his argument for selling the company in a filing with the SEC shortly. We will likely get to see this before June 20th so that it can be discussed during the company's annual meeting. If Chapman and other investors are successful in pushing for a sale of the company, it could mean significant share appreciation. This makes AGIL a stock worth watching!

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