Updated from 11:29 a.m. EDT

Software companies helped boost the tech sector Wednesday, as several companies moved after posting earnings news.

Lawson Software ( LWSN) rose 7.2% after the software provider lifted its fourth-quarter earnings guidance. The company now expects adjusted earnings to exceed previous guidance by two cents a share. In April, the company said that it would post adjusted earnings of 3 cents to 5 cents a share. Analysts polled by Thomson Financial project earnings of 4 cents a share. Lawson now sees adjusted revenue of $201 million to $208 million. Previously, the company said that it would post revenue of $187 million to $195 million. Analysts project revenue of $193.5 million. Lawson said the quarter benefited from better-than-expected revenue at its Lawson System Foundation. Shares closed up 67 cents to $10.

Elsewhere, Omniture ( OMTR) rose 7.5% after the software company priced its stock offering and boosted the number of shares that it would sell by 350,000 shares. The stock priced at $18.15 a share. In all, Omniture is selling 8.18 million shares. Some 7.15 million shares are being sold by the company and the rest are being sold by shareholders. Shares closed up $1.36 to $19.51.

Meanwhile, Saba Software ( SABA) fell 8.2% after the software company warned that fourth-quarter results would be lower than expected. The company now sees an adjusted loss of 3 cents to 6 cents a share on revenue of $25.3 million to $26.1 million. Analysts project earnings of 7 cents a share on revenue of $28.2 million. Previously, the company said that it would post adjusted earnings ranging from 5 cents to 10 cents a share on revenue of $27.5 million to $29.5 million. "Total revenues and earnings per share in the fourth quarter were affected by a continued business model shift resulting in greater than expected OnDemand bookings relative to license bookings and by contractual contingencies included in three sizeable license transactions signed during the quarter that precluded revenue recognition on those licenses," the company said. Shares closed down 45 cents to $5.06.

Measurement Specialties ( MEAS) rose 1.7% after the maker of measurement instruments posted solid fourth-quarter results. The company earned $3 million, or 21 cents a share, on revenue of $54.4 million. Results included legal charges of 6 cents a share. Analysts expected earnings of 26 cents a share on revenue of $51.2 million.

Looking ahead, Measurement Specialties sees first-quarter earnings of 23 cents to 27 cents a share on revenue of $52 million to $53 million. Shares closed up 35 cents to $20.73.

Finally, Sapient ( SAPE) rose 6.5% after the technology services company reported first-quarter results that topped Wall Street's forecast. The company posted adjusted earnings of $7.7 million, or 7 cents a share, on revenue of $125.8 million. Analysts expected earnings of 2 cents a share on revenue of $118.7 million. Shares closed up 49 cents to $8.03.

As for the broader technology sector, the Nasdaq 100 was up about 23 points to about 1914.