BidaskClub upgraded shares of Servicesource International (NASDAQ:SREV) from a sell rating to a hold rating in a report released on Wednesday morning.
Several other brokerages have also recently issued reports on SREV. Northland Securities reaffirmed a hold rating and issued a $5.25 target price on shares of Servicesource International in a report on Friday, October 6th. Zacks Investment Research raised Servicesource International from a hold rating to a buy rating and set a $4.00 target price on the stock in a report on Thursday, October 19th.
Servicesource International (NASDAQ SREV) opened at $3.17 on Wednesday. Servicesource International has a 52-week low of $2.61 and a 52-week high of $6.05. The company has a market capitalization of $284.89, a PE ratio of -7.37 and a beta of 1.19.
Servicesource International (NASDAQ:SREV) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Servicesource International had a negative return on equity of 1.35% and a negative net margin of 15.89%. The firm had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $56.55 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. analysts forecast that Servicesource International will post -0.02 EPS for the current fiscal year.
In other news, CEO Christopher Carrington bought 33,900 shares of Servicesource International stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $2.95 per share, with a total value of $100,005.00. Following the completion of the acquisition, the chief executive officer now owns 853,202 shares of the company’s stock, valued at approximately $2,516,945.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Servicesource International by 3.7% during the second quarter. Vanguard Group Inc. now owns 2,573,405 shares of the technology company’s stock worth $9,984,000 after acquiring an additional 92,847 shares during the last quarter. State Street Corp increased its stake in Servicesource International by 13.0% during the second quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock worth $4,406,000 after acquiring an additional 130,675 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Servicesource International by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 1,009,493 shares of the technology company’s stock worth $3,917,000 after acquiring an additional 24,750 shares during the last quarter. Northern Trust Corp increased its stake in Servicesource International by 24.2% during the second quarter. Northern Trust Corp now owns 861,516 shares of the technology company’s stock worth $3,343,000 after acquiring an additional 167,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Servicesource International by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 599,331 shares of the technology company’s stock worth $2,074,000 after acquiring an additional 26,440 shares during the last quarter. 68.49% of the stock is currently owned by institutional investors.
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Servicesource International Company 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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