Zacks Investment Research Upgrades inContact Inc. (SAAS) to Hold
inContact Inc. (NASDAQ:SAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “inContact, Inc. operates as a hosted, software as a service company offering a range of hosted contact handling and performance management software services, in addition to a variety of connectivity options for carrying an inbound call into its inContact suite of services.The Company sells telecom services unbundled from its inContact service offering, including dedicated, switched, toll free and data lines.The company also operates as a reseller of domestic and international long distance and other services provided by national and regional wholesale providers.It was formerly known as UCN, Inc. and is based in Midvale, Utah. “
inContact (NASDAQ:SAAS) remained flat at $13.97 on Wednesday. The company had a trading volume of 767,897 shares. inContact has a 1-year low of $6.25 and a 1-year high of $13.99. The firm’s 50 day moving average is $13.92 and its 200 day moving average is $12.52. The stock’s market capitalization is $873.61 million.
inContact (NASDAQ:SAAS) last announced its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.15. inContact had a negative return on equity of 12.85% and a negative net margin of 7.86%. The company had revenue of $63.80 million for the quarter, compared to analyst estimates of $62.43 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts anticipate that inContact will post ($0.25) earnings per share for the current year.
A number of large investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of inContact by 9.2% in the second quarter. Teacher Retirement System of Texas now owns 8,240 shares of the company’s stock worth $114,000 after buying an additional 696 shares during the last quarter. Royal Bank of Canada raised its stake in shares of inContact by 2,498.6% in the second quarter. Royal Bank of Canada now owns 9,173 shares of the company’s stock worth $127,000 after buying an additional 8,820 shares during the last quarter. BTG Pactual Global Asset Management Ltd acquired a new stake in shares of inContact during the second quarter worth about $139,000. Highbridge Capital Management LLC acquired a new stake in shares of inContact during the second quarter worth about $186,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of inContact during the second quarter worth about $210,000. Institutional investors and hedge funds own 94.06% of the company’s stock.
inContact, Inc (inContact) is a provider of cloud contact center software solutions. The Company provides a range of cloud contact center call routing, self-service and agent optimization solutions. The Company operates through two business segments: Software and Network connectivity. inContact’s Software segment includes the services related to the delivery of its cloud contact center software solutions.
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