Eric Smit Sells 5,000 Shares of eGain (NASDAQ:EGAN) Stock

eGain Corporation (NASDAQ:EGAN) CFO Eric Smit sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the transaction, the chief financial officer owned 129,187 shares in the company, valued at $1,865,460.28. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Eric Smit also recently made the following trade(s):

• On Friday, October 3rd, Eric Smit sold 15,000 shares of eGain stock. The shares were sold at an average price of $10.00, for a total value of $150,000.00.

eGain Stock Down 0.8%

Shares of eGain stock traded down $0.12 during trading on Wednesday, hitting $15.11. 454,717 shares of the stock traded hands, compared to its average volume of 126,452. The stock has a market cap of $408.26 million, a price-to-earnings ratio of 13.14 and a beta of 0.40. The firm’s fifty day moving average is $10.59 and its 200-day moving average is $7.54. eGain Corporation has a 52 week low of $4.34 and a 52 week high of $15.55.

eGain declared that its board has initiated a stock repurchase program on Thursday, September 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On eGain

Large investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in shares of eGain in the 1st quarter worth approximately $250,000. Nuveen LLC bought a new stake in eGain during the 1st quarter valued at approximately $296,000. Ritholtz Wealth Management bought a new stake in eGain during the 2nd quarter valued at approximately $194,000. Acadian Asset Management LLC boosted its position in eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company’s stock valued at $4,753,000 after acquiring an additional 6,429 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of eGain by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 139,684 shares of the technology company’s stock valued at $677,000 after purchasing an additional 10,486 shares in the last quarter. 53.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EGAN. Weiss Ratings restated a “hold (c+)” rating on shares of eGain in a report on Tuesday, October 14th. Zacks Research upgraded shares of eGain from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Wall Street Zen upgraded shares of eGain from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.00.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.