Servicesource International (SREV) Downgraded to Sell at Zacks Investment Research

Servicesource International (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

A number of other equities research analysts have also weighed in on SREV. Northland Securities reaffirmed a “hold” rating and set a $5.25 target price on shares of Servicesource International in a research note on Friday, October 6th. BidaskClub raised shares of Servicesource International from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th.

Shares of Servicesource International (SREV) remained flat at $$3.40 on Thursday. 68,765 shares of the stock traded hands, compared to its average volume of 424,243. The stock has a market cap of $311.93, a P/E ratio of -7.73 and a beta of 1.20. Servicesource International has a 12 month low of $2.61 and a 12 month high of $6.05.

Servicesource International (NASDAQ:SREV) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $58.10 million for 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 for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. equities analysts expect that Servicesource International will post -0.02 earnings per share for the current year.

In related news, CEO Christopher Carrington bought 33,900 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $2.95 per share, with a total value of $100,005.00. Following the purchase, the chief executive officer now owns 853,202 shares of the company’s stock, valued at approximately $2,516,945.90. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 30.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its position in Servicesource International by 21.8% during the 2nd quarter. Teachers Advisors LLC now owns 212,028 shares of the technology company’s stock valued at $823,000 after acquiring an additional 37,987 shares during the period. OxFORD Asset Management LLP lifted its position 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 valued at $801,000 after acquiring an additional 189,413 shares during the period. State Street Corp lifted its position 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 valued at $4,406,000 after acquiring an additional 130,675 shares during the period. Vanguard Group Inc. lifted its position in Servicesource International by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,573,405 shares of the technology company’s stock valued at $9,984,000 after acquiring an additional 92,847 shares during the period. Finally, Lyon Street Capital LLC lifted its position 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 valued at $1,625,000 after acquiring an additional 397,660 shares during the period. 68.59% of the stock is 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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