Alliancebernstein L.P. increased its position in shares of ServiceSource International, Inc. (NASDAQ:SREV) by 17.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,920 shares of the technology company’s stock after acquiring an additional 6,400 shares during the quarter. Alliancebernstein L.P.’s holdings in ServiceSource International were worth $170,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of ServiceSource International by 7.1% during the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,484 shares during the period. Goldman Sachs Group Inc. lifted its stake in ServiceSource International by 30.8% in the first quarter. Goldman Sachs Group Inc. now owns 39,467 shares of the technology company’s stock valued at $153,000 after buying an additional 9,284 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in ServiceSource International by 11.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,342 shares of the technology company’s stock valued at $168,000 after buying an additional 4,430 shares during the period. Rhumbline Advisers lifted its stake in ServiceSource International by 18.1% in the second quarter. Rhumbline Advisers now owns 82,271 shares of the technology company’s stock valued at $319,000 after buying an additional 12,607 shares during the period. Finally, Bank of Montreal Can lifted its stake in ServiceSource International by 2.7% in the second quarter. Bank of Montreal Can now owns 90,934 shares of the technology company’s stock valued at $353,000 after buying an additional 2,370 shares during the period. 67.60% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on SREV. Northland Securities set a $5.00 price target on ServiceSource International and gave the stock a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Zacks Investment Research cut ServiceSource International from a “buy” rating to a “hold” rating in a research report on Friday, October 20th.
Shares of ServiceSource International, Inc. (NASDAQ SREV) opened at $2.76 on Wednesday. ServiceSource International, Inc. has a 52-week low of $2.67 and a 52-week high of $6.25.
ServiceSource International (NASDAQ:SREV) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The business had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $56.55 million. ServiceSource International had a negative return on equity of 1.35% and a negative net margin of 15.89%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.02 EPS. equities analysts expect that ServiceSource International, Inc. will post -0.02 EPS for the current fiscal year.
In other ServiceSource International news, Director Steven Cakebread sold 29,692 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $3.22, for a total transaction of $95,608.24. Following the transaction, the director now owns 64,943 shares in the company, valued at approximately $209,116.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Carrington acquired 28,429 shares of the stock in a transaction on Friday, September 8th. The shares were bought at an average price of $3.50 per share, for a total transaction of $99,501.50. Following the purchase, the chief executive officer now owns 822,473 shares in the company, valued at $2,878,655.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 126,578 shares of company stock worth $428,289. Corporate insiders own 17.90% of the company’s stock.
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ServiceSource International 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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