ServiceSource International, Inc. (SREV) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC raised its stake in ServiceSource International, Inc. (NASDAQ:SREV) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 507,246 shares of the technology company’s stock after buying an additional 28,589 shares during the period. Geode Capital Management LLC owned approximately 0.57% of ServiceSource International worth $1,968,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SREV. 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 valued at $146,000 after buying an additional 2,484 shares during the last quarter. Concourse Capital Management LLC acquired a new position in ServiceSource International during the first quarter valued at about $282,000. Essex Investment Management Co. LLC boosted its position in ServiceSource International by 34.3% in the first quarter. Essex Investment Management Co. LLC now owns 229,374 shares of the technology company’s stock valued at $890,000 after buying an additional 58,545 shares during the last quarter. Teachers Advisors LLC boosted its position in ServiceSource International by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 200,736 shares of the technology company’s stock valued at $1,140,000 after buying an additional 2,291 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ServiceSource International by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 342,186 shares of the technology company’s stock valued at $1,328,000 after buying an additional 4,526 shares during the last quarter. Hedge funds and other institutional investors own 67.97% of the company’s stock.
Shares of ServiceSource International, Inc. (SREV) traded down 0.55% on Tuesday, hitting $3.63. The stock had a trading volume of 10,050 shares. The company’s 50-day moving average price is $3.70 and its 200 day moving average price is $3.81. The firm’s market cap is $323.76 million. ServiceSource International, Inc. has a 12-month low of $2.82 and a 12-month high of $6.25.
ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings results on Monday, August 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The business had revenue of $58.30 million for the quarter, compared to analyst estimates of $56.26 million. During the same period last year, the company earned $0.01 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. On average, equities research analysts forecast that ServiceSource International, Inc. will post $0.06 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Northland Securities set a $5.00 price objective on ServiceSource International and gave the stock a “hold” rating in a research report on Friday, July 28th. BidaskClub upgraded ServiceSource International from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research upgraded ServiceSource International from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Saturday, May 13th.
In related news, Director Bruce Dunlevie purchased 27,438 shares of ServiceSource International stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $3.31 per share, for a total transaction of $90,819.78. Following the transaction, the director now directly owns 105,816 shares of the company’s stock, valued at $350,250.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary B. Moore purchased 50,000 shares of ServiceSource International stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $3.38 per share, for a total transaction of $169,000.00. Following the completion of the transaction, the director now directly owns 143,627 shares in the company, valued at $485,459.26. The disclosure for this purchase can be found here. Insiders bought a total of 98,149 shares of company stock worth $328,787 over the last 90 days. 17.90% of the stock is owned by corporate insiders.
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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