Bill Martin, editor of FindProfit, looks at IT automation software maker Opsware (NASDAQ: OPSW) – and a "high profile" insider buy in the stock from former Disney (NYSE: DIS) exec, Michael Ovitz.

Martin notes, "Michael Ovitz, a director at the company, a longtime Hollywood power broker, and the one-time president of Disney, picked up 58K shares at $6.40 on March 14th, increasing his holdings to 941,300 shares."

The advisor points out that the purchase occured after the stock hit a 52-week low following its recent earnings report.

And this wasn't the first time Ovitz went into the market to buy shares; Martin notes that it was the seventh time since April 2004 that Ovitz has purchased shares of OPSW. This latest buy, he observes, was Ovitz's first purchase since June 2006.

Overall, he notes, Ovitz has bought 605,000 shares since May 2005, at an average price of $5.86, investing approximately $3.6M.

Martin says, "Ovitz has a history of well-timed buys at OPSW. He has managed to get in at favorable prices, and the stock has traded higher in the months following each of his previous six buys."

Like Ovitz, Bill martin has bought shares of Opsware on several occasions, He has traded the stock three times in his model portfolio. Now, following Ovitz's latest buy, he has decied to add the stock back to his own portfolio.

He states, "I would now argue that OPSW is one of the best growth stories in software today. While still not cheap, we believe the stock will grow into its valuation. TWe consider it a high-growth company with strong upside potential. he latest purchase buy Ovitz only adds to our conviction that the stock is a buy at current levels."

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