Servicesource International Inc (NASDAQ:SREV) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,345,664 shares, a growth of 78.0% from the August 15th total of 756,200 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 255,136 shares, the short-interest ratio is currently 5.3 days.
Shares of SREV stock opened at $2.84 on Tuesday. Servicesource International has a 1 year low of $2.61 and a 1 year high of $4.47. The firm has a market cap of $274.61 million, a PE ratio of 35.50 and a beta of 1.01.
Servicesource International (NASDAQ:SREV) last issued its quarterly earnings results on Monday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Servicesource International had a positive return on equity of 0.73% and a negative net margin of 10.52%. The company had revenue of $61.11 million for the quarter, compared to analysts’ expectations of $59.47 million. sell-side analysts predict that Servicesource International will post -0.01 earnings per share for the current year.
In other Servicesource International news, Director Bruce Dunlevie bought 30,335 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average price of $2.98 per share, with a total value of $90,398.30. Following the purchase, the director now directly owns 141,182 shares of the company’s stock, valued at $420,722.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Servicesource International by 1,497.1% in the 1st quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock worth $5,428,000 after acquiring an additional 1,335,408 shares during the last quarter. Chicago Equity Partners LLC grew its holdings in shares of Servicesource International by 11.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 150,015 shares of the technology company’s stock worth $591,000 after acquiring an additional 15,220 shares during the last quarter. Harvest Capital Strategies LLC grew its holdings in shares of Servicesource International by 21.2% in the 1st quarter. Harvest Capital Strategies LLC now owns 8,302,914 shares of the technology company’s stock worth $31,634,000 after acquiring an additional 1,454,088 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Servicesource International in the 1st quarter worth $288,000. Finally, Spark Investment Management LLC acquired a new position in shares of Servicesource International in the 1st quarter worth $296,000. Institutional investors own 71.18% of the company’s stock.
SREV has been the topic of several research analyst reports. BidaskClub upgraded Servicesource International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut Servicesource International from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 11th. Finally, ValuEngine upgraded Servicesource International from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $4.75.
About Servicesource International
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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