Zacks Investment Research upgraded shares of SeaChange International (NASDAQ:SEAC) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday. The brokerage currently has $4.00 price target on the software maker’s stock.

According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “

SEAC has been the topic of a number of other reports. Lake Street Capital raised SeaChange International from a hold rating to a buy rating and upped their target price for the stock from $3.00 to $4.00 in a research report on Thursday, December 7th. Dougherty & Co upped their target price on SeaChange International from $4.00 to $4.50 and gave the stock a buy rating in a research report on Thursday, December 7th.

Shares of SeaChange International (NASDAQ:SEAC) traded up $0.12 during trading hours on Wednesday, hitting $3.85. The stock had a trading volume of 1,025,886 shares, compared to its average volume of 432,129. SeaChange International has a one year low of $2.16 and a one year high of $3.94.

SeaChange International (NASDAQ:SEAC) last issued its earnings results on Wednesday, December 6th. The software maker reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. SeaChange International had a negative return on equity of 5.91% and a negative net margin of 42.52%. The company had revenue of $23.43 million for the quarter, compared to analyst estimates of $19.50 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. SeaChange International’s revenue for the quarter was up 17.4% on a year-over-year basis. research analysts predict that SeaChange International will post 0.03 EPS for the current fiscal year.

In related news, insider Opportunities Fund Lp Se Viex sold 648,735 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $3.50, for a total transaction of $2,270,572.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SEAC. Roumell Asset Management LLC grew its holdings in SeaChange International by 28.8% during the third quarter. Roumell Asset Management LLC now owns 1,215,205 shares of the software maker’s stock worth $3,330,000 after buying an additional 271,870 shares in the last quarter. Vanguard Group Inc. grew its holdings in SeaChange International by 37.4% during the second quarter. Vanguard Group Inc. now owns 885,728 shares of the software maker’s stock worth $2,356,000 after buying an additional 240,917 shares in the last quarter. Connors Investor Services Inc. grew its holdings in SeaChange International by 31.5% during the second quarter. Connors Investor Services Inc. now owns 669,237 shares of the software maker’s stock worth $1,780,000 after buying an additional 160,355 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in SeaChange International by 10.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,171,036 shares of the software maker’s stock valued at $3,209,000 after purchasing an additional 108,601 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in SeaChange International by 3.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,505,775 shares of the software maker’s stock valued at $6,866,000 after purchasing an additional 91,277 shares during the period. Institutional investors and hedge funds own 73.53% of the company’s stock.

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About SeaChange International

SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.

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