UBS Asset Management Americas Inc. Raises Stake in inContact Inc. (SAAS)
UBS Asset Management Americas Inc. raised its stake in inContact Inc. (NASDAQ:SAAS) by 53.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,225,237 shares of the company’s stock after buying an additional 424,535 shares during the period. UBS Asset Management Americas Inc. owned approximately 1.96% of inContact worth $16,970,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of inContact during the second quarter valued at $22,245,000. Societe Generale bought a new stake in inContact during the second quarter valued at approximately $15,043,000. SG Americas Securities LLC raised its stake in inContact by 4,724.6% in the second quarter. SG Americas Securities LLC now owns 1,086,165 shares of the company’s stock valued at $15,043,000 after buying an additional 1,063,652 shares in the last quarter. Chicago Capital Management LLC bought a new stake in inContact during the second quarter valued at approximately $12,369,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in inContact during the second quarter valued at approximately $10,237,000. Institutional investors own 94.43% of the company’s stock.
Shares of inContact Inc. (NASDAQ:SAAS) remained flat at $13.94 on Wednesday. 89,781 shares of the company traded hands. The firm’s 50 day moving average is $13.88 and its 200 day moving average is $12.18. inContact Inc. has a 12-month low of $6.25 and a 12-month high of $13.99. The firm’s market cap is $871.74 million.
inContact (NASDAQ:SAAS) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.15. The company had revenue of $63.80 million for the quarter, compared to analyst estimates of $62.43 million. inContact had a negative return on equity of 12.85% and a negative net margin of 7.86%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Analysts expect that inContact Inc. will post ($0.25) earnings per share for the current year.
Separately, Zacks Investment Research upgraded inContact from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.75.
inContact, Inc (inContact) is a provider of cloud contact center software solutions. The Company provides a range of cloud contact center call routing, self-service and agent optimization solutions. The Company operates through two business segments: Software and Network connectivity. inContact’s Software segment includes the services related to the delivery of its cloud contact center software solutions.
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