Servicesource International (SREV) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Servicesource International (NASDAQ:SREV) from a sell rating to a hold rating in a report released on Friday morning.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

A number of other research analysts have also issued reports on SREV. BidaskClub upgraded shares of Servicesource International from a strong sell rating to a sell rating in a report on Tuesday, December 12th. ValuEngine lowered shares of Servicesource International from a hold rating to a sell rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $4.63.

Servicesource International (NASDAQ:SREV) traded up $0.14 during trading on Friday, hitting $3.69. 513,531 shares of the company traded hands, compared to its average volume of 473,189. Servicesource International has a 1-year low of $2.61 and a 1-year high of $6.05. The stock has a market cap of $320.05, a price-to-earnings ratio of -10.85 and a beta of 1.26.

Servicesource International (NASDAQ:SREV) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $66.00 million for the quarter, compared to analyst estimates of $62.49 million. Servicesource International had a negative net margin of 12.48% and a positive return on equity of 4.45%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS. equities analysts anticipate that Servicesource International will post 0.1 earnings per share for the current year.

In other news, CEO Christopher Carrington bought 33,900 shares of Servicesource International stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $2.95 per share, for a total transaction of $100,005.00. Following the acquisition, the chief executive officer now owns 853,202 shares in the company, valued at $2,516,945.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Emancipation Management LLC acquired a new position in shares of Servicesource International during the 4th quarter valued at about $1,290,000. Lyon Street Capital LLC increased its stake in shares of Servicesource International by 552.6% during the 3rd quarter. Lyon Street Capital LLC now owns 469,622 shares of the technology company’s stock valued at $1,625,000 after acquiring an additional 397,660 shares during the last quarter. OxFORD Asset Management LLP increased its stake in shares of Servicesource International by 465.6% during the 3rd quarter. OxFORD Asset Management LLP now owns 230,097 shares of the technology company’s stock valued at $801,000 after acquiring an additional 189,413 shares during the last quarter. Northern Trust Corp increased its stake in shares of Servicesource International by 24.2% during the 2nd quarter. Northern Trust Corp now owns 861,516 shares of the technology company’s stock valued at $3,343,000 after acquiring an additional 167,892 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Servicesource International by 13.0% during the 2nd quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock valued at $4,406,000 after acquiring an additional 130,675 shares during the last quarter. Institutional investors own 68.28% of the company’s stock.

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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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