BidaskClub Upgrades ServiceSource International, Inc. (SREV) to “Hold”
BidaskClub upgraded shares of ServiceSource International, Inc. (NASDAQ:SREV) from a sell rating to a hold rating in a report released on Friday morning.
SREV has been the topic of several other reports. Zacks Investment Research upgraded ServiceSource International from a hold rating to a buy rating and set a $3.75 price objective on the stock in a research report on Saturday, May 13th. Northland Securities set a $5.00 price objective on ServiceSource International and gave the company a hold rating in a research report on Friday, July 28th.
ServiceSource International (NASDAQ:SREV) opened at 3.65 on Friday. ServiceSource International has a 52-week low of $2.82 and a 52-week high of $6.25. The firm’s 50-day moving average price is $3.70 and its 200 day moving average price is $3.81. The company’s market cap is $325.54 million.
ServiceSource International (NASDAQ:SREV) last announced its quarterly earnings data on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The business had revenue of $58.30 million for the quarter, compared to the consensus estimate of $56.26 million. During the same period in the previous year, the business earned $0.01 earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. On average, equities analysts predict that ServiceSource International will post $0.06 EPS for the current fiscal year.
In other news, Director Steven Cakebread sold 29,692 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $3.22, for a total value of $95,608.24. Following the transaction, the director now directly owns 64,943 shares in the company, valued at $209,116.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce Dunlevie acquired 27,438 shares of the stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $3.31 per share, for a total transaction of $90,819.78. Following the completion of the transaction, the director now directly owns 105,816 shares of the company’s stock, valued at $350,250.96. The disclosure for this purchase can be found here. Insiders bought 98,149 shares of company stock worth $328,787 over the last 90 days. Company insiders own 17.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of ServiceSource International during the fourth quarter valued at approximately $4,577,000. Essex Investment Management Co. LLC increased its stake in ServiceSource International by 34.3% in the first quarter. Essex Investment Management Co. LLC now owns 229,374 shares of the technology company’s stock worth $890,000 after buying an additional 58,545 shares in the last quarter. Primecap Management Co. CA increased its stake in ServiceSource International by 0.9% in the first quarter. Primecap Management Co. CA now owns 13,014,636 shares of the technology company’s stock worth $50,497,000 after buying an additional 116,400 shares in the last quarter. Renaissance Technologies LLC increased its stake in ServiceSource International by 4.9% in the first quarter. Renaissance Technologies LLC now owns 2,194,646 shares of the technology company’s stock worth $8,515,000 after buying an additional 102,600 shares in the last quarter. Finally, VIEX Capital Advisors LLC purchased a new stake in ServiceSource International during the first quarter worth approximately $3,054,000. Institutional investors and hedge funds own 67.97% of the company’s stock.
ServiceSource International Company Profile
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).
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