ServiceSource International, Inc. (SREV) Downgraded to Sell at Zacks Investment Research

ServiceSource International, Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

Several other research firms have also weighed in on SREV. Northland Securities reaffirmed a “hold” rating and set a $5.25 price objective on shares of ServiceSource International in a report on Friday, October 6th. BidaskClub lowered shares of ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

ServiceSource International (NASDAQ:SREV) opened at $2.78 on Tuesday. ServiceSource International has a one year low of $2.67 and a one year high of $6.25.

ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings data 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 company had revenue of $58.10 million during the quarter, compared to analyst estimates of $56.55 million. ServiceSource International had a negative net margin of 15.89% and a negative return on equity of 1.35%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share.

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In related news, Director Bruce Dunlevie purchased 20,711 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $3.33 per share, with a total value of $68,967.63. Following the completion of the acquisition, the director now directly owns 105,816 shares in the company, valued at approximately $352,367.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Cakebread sold 60,853 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $3.27, for a total transaction of $198,989.31. Following the completion of the sale, the director now directly owns 64,943 shares of the company’s stock, valued at approximately $212,363.61. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 126,578 shares of company stock valued at $428,289. Company insiders own 17.90% of the company’s stock.

Several institutional investors have recently modified their holdings of SREV. Lyon Street Capital LLC grew its holdings in ServiceSource International by 552.6% during the 3rd quarter. Lyon Street Capital LLC now owns 469,622 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 397,660 shares during the period. Vanguard Group Inc. grew its holdings in ServiceSource International by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 2,480,558 shares of the technology company’s stock worth $9,624,000 after acquiring an additional 240,079 shares during the period. OxFORD Asset Management LLP grew its holdings in ServiceSource International by 465.6% during the 3rd quarter. OxFORD Asset Management LLP now owns 230,097 shares of the technology company’s stock worth $801,000 after acquiring an additional 189,413 shares during the period. Northern Trust Corp grew its holdings in ServiceSource International by 24.2% during the 2nd 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 period. Finally, State Street Corp grew its holdings in ServiceSource International by 13.0% during the 2nd 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 period. 67.60% of the stock is owned by institutional investors and hedge funds.

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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