Servicesource International (NASDAQ:SREV) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Servicesource International (NASDAQ:SREV) from a sell rating to a hold rating in a research report released on Wednesday, December 27th.

Several other equities analysts also recently commented on SREV. Northland Securities restated a hold rating and set a $5.25 target price on shares of Servicesource International in a research report on Friday, October 6th. Zacks Investment Research upgraded Servicesource International from a hold rating to a buy rating and set a $4.00 price objective for the company in a research report on Thursday, October 19th.

Servicesource International (NASDAQ SREV) traded up $0.01 on Wednesday, reaching $3.33. The company’s stock had a trading volume of 175,072 shares, compared to its average volume of 334,808. Servicesource International has a 12-month low of $2.61 and a 12-month high of $6.05. The firm has a market cap of $301.12, a price-to-earnings ratio of -7.74 and a beta of 1.20.

Servicesource International (NASDAQ:SREV) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $56.55 million. Servicesource International had a negative return on equity of 1.35% and a negative net margin of 15.89%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. sell-side analysts forecast that Servicesource International will post -0.02 earnings per share for the current fiscal year.

In other Servicesource International news, CEO Christopher Carrington bought 33,900 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was purchased at an average cost of $2.95 per share, with a total value of $100,005.00. Following the completion of the purchase, the chief executive officer now owns 853,202 shares in the company, valued at $2,516,945.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 30.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings 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 in the last quarter. State Street Corp grew its position in shares of Servicesource International by 13.0% in the second quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock valued at $4,406,000 after purchasing an additional 130,675 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Servicesource International by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 1,009,493 shares of the technology company’s stock valued at $3,917,000 after purchasing an additional 24,750 shares during the last quarter. Northern Trust Corp grew its position in shares of Servicesource International by 24.2% in the second quarter. Northern Trust Corp now owns 861,516 shares of the technology company’s stock valued at $3,343,000 after purchasing an additional 167,892 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Servicesource International by 4.6% in the third quarter. Dimensional Fund Advisors LP now owns 599,331 shares of the technology company’s stock valued at $2,074,000 after purchasing an additional 26,440 shares during the last quarter. Institutional investors and hedge funds own 68.49% 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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