ServiceSource International, Inc. (NASDAQ:SREV) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
SREV has been the topic of a number of other research reports. Zacks Investment Research cut ServiceSource International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Northland Securities set a $5.00 price target on ServiceSource International and gave the stock a “hold” rating in a research report on Friday, July 28th.
ServiceSource International (NASDAQ SREV) opened at 3.66 on Friday. ServiceSource International has a 52-week low of $2.82 and a 52-week high of $6.25. The stock has a 50 day moving average of $3.70 and a 200-day moving average of $3.81. The company’s market capitalization is $326.43 million.
ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings data on Monday, August 7th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $58.30 million for the quarter, compared to analysts’ expectations of $56.26 million. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. On average, equities analysts forecast that ServiceSource International will post $0.06 earnings per share for the current year.
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In other ServiceSource International news, Director Gary B. Moore bought 50,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $3.38 per share, for a total transaction of $169,000.00. Following the completion of the transaction, the director now directly owns 143,627 shares in the company, valued at approximately $485,459.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce Dunlevie bought 20,711 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $3.33 per share, for a total transaction of $68,967.63. Following the transaction, the director now owns 105,816 shares of the company’s stock, valued at $352,367.28. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 98,149 shares of company stock worth $328,787. Company insiders own 30.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in ServiceSource International by 22.7% in the second quarter. Voya Investment Management LLC now owns 36,641 shares of the technology company’s stock worth $142,000 after buying an additional 6,789 shares in the last quarter. American International Group Inc. raised its stake in shares of ServiceSource International by 7.1% in the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock worth $146,000 after buying an additional 2,484 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ServiceSource International by 30.8% in the first quarter. Goldman Sachs Group Inc. now owns 39,467 shares of the technology company’s stock worth $153,000 after buying an additional 9,284 shares during the last quarter. OxFORD Asset Management LLP raised its stake in shares of ServiceSource International by 106.3% in the second quarter. OxFORD Asset Management LLP now owns 40,684 shares of the technology company’s stock worth $158,000 after buying an additional 20,966 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of ServiceSource International by 21.7% in the second quarter. Nationwide Fund Advisors now owns 42,721 shares of the technology company’s stock worth $166,000 after buying an additional 7,607 shares during the last quarter. Hedge funds and other institutional investors own 66.55% of the company’s stock.
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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