Granite Investment Partners LLC Has $1.92 Million Position in ServiceSource International, Inc. (SREV)
Granite Investment Partners LLC decreased its position in shares of ServiceSource International, Inc. (NASDAQ:SREV) by 28.1% during the second quarter, Holdings Channel reports. The institutional investor owned 495,193 shares of the technology company’s stock after selling 193,590 shares during the period. Granite Investment Partners LLC’s holdings in ServiceSource International were worth $1,921,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SREV. Russell Investments Group Ltd. acquired a new position in ServiceSource International during the fourth quarter worth approximately $141,000. American International Group Inc. boosted its position in ServiceSource International by 7.1% in the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock worth $146,000 after buying an additional 2,484 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in ServiceSource International by 30.8% in the first quarter. Goldman Sachs Group Inc. now owns 39,467 shares of the technology company’s stock worth $153,000 after buying an additional 9,284 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in ServiceSource International by 11.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,342 shares of the technology company’s stock worth $168,000 after buying an additional 4,430 shares in the last quarter. Finally, Concourse Capital Management LLC acquired a new position in ServiceSource International during the first quarter worth approximately $282,000. 67.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ServiceSource International, Inc. (NASDAQ:SREV) opened at 3.55 on Friday. The firm’s 50-day moving average price is $3.80 and its 200-day moving average price is $3.95. ServiceSource International, Inc. has a 12-month low of $2.82 and a 12-month high of $6.25. The stock’s market cap is $316.62 million.
ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings results on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The business had revenue of $58.30 million during the quarter, compared to the consensus estimate of $56.26 million. ServiceSource International had a negative net margin of 17.26% and a negative return on equity of 3.70%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. On average, analysts forecast that ServiceSource International, Inc. will post $0.06 EPS for the current fiscal year.
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A number of analysts recently issued reports on the company. BidaskClub lowered ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Northland Securities set a $5.00 price target on ServiceSource International and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Zacks Investment Research lowered ServiceSource International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.58.
About ServiceSource International
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).
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