ServiceSource International, Inc. (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

A number of other research analysts have also recently issued reports on SREV. BidaskClub cut shares of 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 shares of ServiceSource International and gave the stock a “hold” rating in a report on Friday, July 28th.

ServiceSource International (SREV) traded down $0.12 during midday trading on Tuesday, hitting $2.64. 441,600 shares of the stock were exchanged, compared to its average volume of 229,599. ServiceSource International has a 1 year low of $2.64 and a 1 year high of $6.25.

ServiceSource International (NASDAQ:SREV) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $56.55 million. ServiceSource International had a negative net margin of 15.89% and a negative return on equity of 1.35%. ServiceSource International’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share. analysts predict that ServiceSource International will post -0.02 EPS for the current year.

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In related news, Director Steven Cakebread sold 29,692 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $3.22, for a total transaction of $95,608.24. Following the completion of the transaction, the director now owns 64,943 shares of the company’s stock, valued at $209,116.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Carrington bought 28,429 shares of ServiceSource International stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $3.50 per share, with a total value of $99,501.50. Following the acquisition, the chief executive officer now owns 822,473 shares of the company’s stock, valued at $2,878,655.50. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 126,578 shares of company stock valued at $428,289. Corporate insiders own 30.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. PEAK6 Investments L.P. purchased a new position in shares of ServiceSource International during the third quarter worth $105,000. Voya Investment Management LLC raised its holdings in shares of ServiceSource International by 22.7% during the second quarter. Voya Investment Management LLC now owns 36,641 shares of the technology company’s stock worth $142,000 after purchasing an additional 6,789 shares during the last quarter. American International Group Inc. raised its holdings in shares of ServiceSource International by 7.1% during the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,484 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ServiceSource International by 30.8% during the first quarter. Goldman Sachs Group Inc. now owns 39,467 shares of the technology company’s stock worth $153,000 after purchasing an additional 9,284 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of ServiceSource International during the third quarter worth $139,000. 67.60% of the stock is owned by hedge funds and other institutional investors.

ServiceSource International Company Profile

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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