Ritholtz Wealth Management Acquires Shares of 31,116 eGain Corporation $EGAN

Ritholtz Wealth Management purchased a new position in shares of eGain Corporation (NASDAQ:EGAN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,116 shares of the technology company’s stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kanen Wealth Management LLC grew its stake in shares of eGain by 0.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 2,672,710 shares of the technology company’s stock worth $16,704,000 after purchasing an additional 16,290 shares during the period. Strs Ohio acquired a new position in shares of eGain during the 1st quarter worth $250,000. Acadian Asset Management LLC grew its stake in shares of eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company’s stock worth $4,753,000 after purchasing an additional 6,429 shares during the period. Jane Street Group LLC grew its stake in shares of eGain by 53.7% during the 1st quarter. Jane Street Group LLC now owns 47,726 shares of the technology company’s stock worth $231,000 after purchasing an additional 16,678 shares during the period. Finally, Nuveen LLC acquired a new position in shares of eGain during the 1st quarter worth $296,000. 53.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other eGain news, CFO Eric Smit sold 15,000 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer directly owned 129,187 shares of the company’s stock, valued at $1,291,870. This trade represents a 10.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EGAN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of eGain in a research note on Tuesday, October 14th. Wall Street Zen raised shares of eGain from a “hold” rating to a “buy” rating in a research note on Saturday, September 6th. Finally, Zacks Research upgraded shares of eGain from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.00.

eGain Price Performance

Shares of NASDAQ EGAN opened at $14.72 on Wednesday. eGain Corporation has a 12-month low of $4.34 and a 12-month high of $15.21. The company has a market capitalization of $395.48 million, a PE ratio of 12.80 and a beta of 0.40. The firm’s 50-day moving average is $8.94 and its two-hundred day moving average is $6.83.

eGain announced that its board has initiated a stock buyback program on Thursday, September 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.