ServiceSource International, Inc. (SREV) Rating Lowered to Hold at Zacks Investment Research
ServiceSource International, Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
ServiceSource International (NASDAQ:SREV) opened at 5.52 on Wednesday. ServiceSource International has a 12-month low of $3.35 and a 12-month high of $6.25. The company’s market cap is $479.88 million. The firm has a 50-day moving average price of $5.80 and a 200-day moving average price of $4.97.
ServiceSource International (NASDAQ:SREV) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. ServiceSource International had a negative return on equity of 4.59% and a negative net margin of 11.88%. The business had revenue of $62.51 million for the quarter, compared to the consensus estimate of $61.14 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that ServiceSource International will post $0.05 earnings per share for the current fiscal year.
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In other ServiceSource International news, Director Thomas F. Mendoza sold 20,000 shares of ServiceSource International stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $5.90, for a total value of $118,000.00. Following the sale, the director now owns 150,545 shares of the company’s stock, valued at approximately $888,215.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 30.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in SREV. American International Group Inc. increased its stake in ServiceSource International by 0.9% in the second quarter. American International Group Inc. now owns 35,133 shares of the company’s stock worth $142,000 after buying an additional 301 shares during the last quarter. BlackRock Inc. increased its position in ServiceSource International by 2.1% in the third quarter. BlackRock Inc. now owns 39,682 shares of the company’s stock valued at $194,000 after buying an additional 829 shares in the last quarter. Rhumbline Advisers increased its position in ServiceSource International by 1.7% in the third quarter. Rhumbline Advisers now owns 60,444 shares of the company’s stock valued at $295,000 after buying an additional 1,000 shares in the last quarter. California State Teachers Retirement System increased its position in ServiceSource International by 0.9% in the third quarter. California State Teachers Retirement System now owns 129,174 shares of the company’s stock valued at $630,000 after buying an additional 1,200 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in ServiceSource International by 5.5% in the second quarter. BlackRock Advisors LLC now owns 29,279 shares of the company’s stock valued at $118,000 after buying an additional 1,519 shares in the last quarter. 72.21% of the stock is currently 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.
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