Servicesource International (SREV) Lifted to “Hold” at Zacks Investment Research

Servicesource International (NASDAQ:SREV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

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. “

Other analysts have also recently issued reports about the company. BidaskClub raised Servicesource International from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. ValuEngine cut Servicesource International from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $4.63.

Shares of Servicesource International (SREV) opened at $3.55 on Friday. The stock has a market capitalization of $311.93, a P/E ratio of -10.44 and a beta of 1.26. Servicesource International has a twelve month low of $2.61 and a twelve month high of $6.05.

Servicesource International (NASDAQ:SREV) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $66.00 million for the quarter, compared to analysts’ expectations of $62.49 million. Servicesource International had a positive return on equity of 4.45% and a negative net margin of 12.48%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. analysts predict that Servicesource International will post 0.1 EPS for the current year.

In related news, CEO Christopher Carrington purchased 33,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average price of $2.95 per share, for a total transaction of $100,005.00. Following the acquisition, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 30.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SREV. Schwab Charles Investment Management Inc. raised its holdings in Servicesource International by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 263,112 shares of the technology company’s stock valued at $1,021,000 after buying an additional 1,615 shares during the period. Bank of New York Mellon Corp raised its holdings in Servicesource International by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 351,800 shares of the technology company’s stock valued at $1,365,000 after buying an additional 9,614 shares during the period. Swiss National Bank grew its position in Servicesource International by 23.9% in the 2nd quarter. Swiss National Bank now owns 121,200 shares of the technology company’s stock valued at $470,000 after acquiring an additional 23,400 shares during the last quarter. Alliancebernstein L.P. grew its position in Servicesource International by 17.1% in the 2nd quarter. Alliancebernstein L.P. now owns 43,920 shares of the technology company’s stock valued at $170,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Servicesource International by 21.8% in 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 last quarter. Institutional investors own 68.28% of the company’s stock.

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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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