BlackRock Inc. Buys 141,491 Shares of eGain Corp (NASDAQ:EGAN)
BlackRock Inc. grew its stake in shares of eGain Corp (NASDAQ:EGAN) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,295,245 shares of the technology company’s stock after buying an additional 141,491 shares during the period. BlackRock Inc.’s holdings in eGain were worth $10,542,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Parametric Portfolio Associates LLC bought a new position in eGain during the second quarter worth about $82,000. Marshall Wace North America L.P. bought a new position in eGain during the first quarter worth about $114,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in eGain during the second quarter worth about $146,000. SG Americas Securities LLC bought a new position in eGain during the second quarter worth about $171,000. Finally, Prudential Financial Inc. boosted its holdings in eGain by 150.5% during the second quarter. Prudential Financial Inc. now owns 28,014 shares of the technology company’s stock worth $228,000 after buying an additional 16,830 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.
A number of brokerages have issued reports on EGAN. Zacks Investment Research upgraded eGain from a “sell” rating to a “hold” rating in a report on Monday, October 7th. Needham & Company LLC set a $15.00 price objective on eGain and gave the company a “buy” rating in a report on Wednesday, September 4th. Roth Capital set a $15.00 price objective on eGain and gave the company a “buy” rating in a report on Wednesday, September 4th. Craig Hallum set a $8.00 price objective on eGain and gave the company a “hold” rating in a report on Wednesday, September 4th. Finally, ValuEngine cut eGain from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.75.
eGain (NASDAQ:EGAN) last released its quarterly earnings data on Tuesday, September 3rd. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). eGain had a net margin of 6.20% and a return on equity of 45.23%. The business had revenue of $16.82 million for the quarter, compared to the consensus estimate of $16.46 million. During the same quarter last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts anticipate that eGain Corp will post 0.02 earnings per share for the current year.
In other news, CFO Eric Smit sold 4,000 shares of eGain stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $8.00, for a total transaction of $32,000.00. Following the transaction, the chief financial officer now owns 137,187 shares in the company, valued at approximately $1,097,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 9,000 shares of company stock worth $70,960 in the last quarter. 38.60% of the stock is currently owned by company insiders.
eGain Company Profile
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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