Zacks Investment Research cut shares of ServiceSource International Inc. (NASDAQ:SREV) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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 recently issued reports on SREV. JMP Securities lifted their price objective on shares of ServiceSource International from $7.00 to $8.00 and gave the stock a market outperform rating in a research report on Wednesday, August 24th. TheStreet raised shares of ServiceSource International from a sell rating to a hold rating in a research report on Wednesday, September 7th.
ServiceSource International (NASDAQ:SREV) traded down 0.731% during midday trading on Wednesday, hitting $4.755. The stock had a trading volume of 11,558 shares. ServiceSource International has a 12 month low of $3.35 and a 12 month high of $5.75. The stock’s market cap is $407.99 million. The stock has a 50 day moving average of $4.89 and a 200 day moving average of $4.36.
ServiceSource International (NASDAQ:SREV) last released its quarterly earnings data on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business earned $62 million during the quarter, compared to analysts’ expectations of $60.33 million. ServiceSource International had a negative net margin of 12.68% and a negative return on equity of 7.50%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. Analysts expect that ServiceSource International will post ($0.01) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in SREV. Harvest Capital Strategies LLC boosted its stake in shares of ServiceSource International by 5.6% in the first quarter. Harvest Capital Strategies LLC now owns 5,200,000 shares of the company’s stock worth $22,152,000 after buying an additional 275,000 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of ServiceSource International by 7.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 45,666 shares of the company’s stock worth $195,000 after buying an additional 3,139 shares during the last quarter. Carleon Capital Partners LLC boosted its stake in shares of ServiceSource International by 14.8% in the second quarter. Carleon Capital Partners LLC now owns 120,280 shares of the company’s stock worth $485,000 after buying an additional 15,510 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of ServiceSource International by 2.6% in the second quarter. California State Teachers Retirement System now owns 127,974 shares of the company’s stock worth $516,000 after buying an additional 3,197 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of ServiceSource International by 1.9% in the first quarter. Geode Capital Management LLC now owns 455,149 shares of the company’s stock worth $1,938,000 after buying an additional 8,276 shares during the last quarter. 74.77% 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 improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.