eGain Corp (NASDAQ:EGAN) Position Reduced by S Squared Technology LLC
S Squared Technology LLC cut its holdings in eGain Corp (NASDAQ:EGAN) by 89.0% during the first quarter, Holdings Channel reports. The fund owned 15,000 shares of the technology company’s stock after selling 121,834 shares during the period. S Squared Technology LLC’s holdings in eGain were worth $157,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in eGain by 82.7% in the third quarter. Vanguard Group Inc. now owns 1,350,983 shares of the technology company’s stock valued at $10,943,000 after purchasing an additional 611,577 shares during the period. Two Sigma Advisers LP increased its position in shares of eGain by 12.1% during the fourth quarter. Two Sigma Advisers LP now owns 58,200 shares of the technology company’s stock worth $382,000 after acquiring an additional 6,300 shares during the period. Perkins Capital Management Inc. purchased a new stake in shares of eGain during the first quarter worth $235,000. GSA Capital Partners LLP increased its position in shares of eGain by 10.1% during the fourth quarter. GSA Capital Partners LLP now owns 280,400 shares of the technology company’s stock worth $1,842,000 after acquiring an additional 25,800 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of eGain by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 546,940 shares of the technology company’s stock worth $3,593,000 after acquiring an additional 72,341 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.
EGAN has been the topic of a number of recent research reports. BidaskClub lowered eGain from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 3rd. Zacks Investment Research lowered eGain from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. ValuEngine lowered eGain from a “hold” rating to a “sell” rating in a research report on Monday, June 3rd. Finally, Craig Hallum lowered eGain from a “buy” rating to a “hold” rating and cut their price objective for the stock from $12.00 to $10.00 in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.83.
eGain (NASDAQ:EGAN) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $17.00 million for the quarter, compared to analyst estimates of $16.60 million. eGain had a return on equity of 225.04% and a net margin of 5.25%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, equities research analysts expect that eGain Corp will post 0.16 EPS for the current year.
In related news, CFO Eric Smit sold 5,000 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $10.49, for a total value of $52,450.00. Following the transaction, the chief financial officer now owns 138,187 shares of the company’s stock, valued at $1,449,581.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Promod Narang sold 22,650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $8.03, for a total value of $181,879.50. Following the completion of the transaction, the senior vice president now directly owns 320,118 shares in the company, valued at approximately $2,570,547.54. The disclosure for this sale can be found here. Insiders sold 35,650 shares of company stock worth $308,660 in the last three months. 38.60% of the stock is currently owned by corporate insiders.
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eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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