ServiceSource International, Inc. (SREV) Stake Increased by Bank of Montreal Can
Bank of Montreal Can boosted its stake in ServiceSource International, Inc. (NASDAQ:SREV) by 2.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 90,934 shares of the technology company’s stock after buying an additional 2,370 shares during the period. Bank of Montreal Can owned 0.10% of ServiceSource International worth $353,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. VIEX Capital Advisors LLC purchased a new position in ServiceSource International during the first quarter valued at approximately $3,054,000. Vanguard Group Inc. boosted its stake in ServiceSource International by 10.7% in the first quarter. Vanguard Group Inc. now owns 2,480,558 shares of the technology company’s stock worth $9,624,000 after buying an additional 240,079 shares during the period. Primecap Management Co. CA boosted 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 during the period. Renaissance Technologies LLC boosted 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 during the period. Finally, RGM Capital LLC boosted its stake in ServiceSource International by 1.1% in the first quarter. RGM Capital LLC now owns 7,667,518 shares of the technology company’s stock worth $29,750,000 after buying an additional 82,802 shares during the period. 67.97% of the stock is currently owned by hedge funds and other institutional investors.
ServiceSource International, Inc. (SREV) traded up 1.826% during midday trading on Thursday, hitting $3.625. 26,113 shares of the company were exchanged. The stock’s market capitalization is $323.31 million. The stock has a 50 day moving average of $3.70 and a 200-day moving average of $3.81. ServiceSource International, Inc. has a 1-year low of $2.82 and a 1-year high of $6.25.
ServiceSource International (NASDAQ:SREV) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $58.30 million for the quarter, compared to the consensus estimate of $56.26 million. ServiceSource International had a negative net margin of 17.26% and a negative return on equity of 3.70%. ServiceSource International’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts expect that ServiceSource International, Inc. will post $0.06 earnings per share for the current year.
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A number of research firms recently commented on SREV. Northland Securities set a $5.00 price target on shares of ServiceSource International and gave the stock a “hold” rating in a report on Friday, July 28th. BidaskClub raised shares of ServiceSource International from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Zacks Investment Research raised shares of ServiceSource International from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Saturday, May 13th.
In related news, Director Gary B. Moore purchased 50,000 shares of ServiceSource International stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $3.38 per share, for a total transaction of $169,000.00. Following the acquisition, the director now owns 143,627 shares in the company, valued at approximately $485,459.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce Dunlevie purchased 27,438 shares of ServiceSource International stock in a transaction on Monday, August 21st. The stock was bought at an average price of $3.31 per share, for a total transaction of $90,819.78. Following the completion of the acquisition, the director now owns 105,816 shares in the company, valued at approximately $350,250.96. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 98,149 shares of company stock worth $328,787. 30.30% of the stock is currently owned by insiders.
About ServiceSource International
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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