Shares of Servicesource International Inc (NASDAQ:SREV) were up 5.8% on Thursday . The company traded as high as $1.48 and last traded at $1.46. Approximately 1,334,617 shares were traded during mid-day trading, an increase of 163% from the average daily volume of 508,159 shares. The stock had previously closed at $1.38.
A number of analysts have weighed in on SREV shares. JMP Securities cut Servicesource International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 19th. Zacks Investment Research upgraded Servicesource International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub upgraded Servicesource International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, B. Riley restated a “buy” rating and issued a $3.00 price target on shares of Servicesource International in a research note on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $2.00.
The company has a market cap of $124.90 million, a price-to-earnings ratio of 18.25 and a beta of 1.81.
In other Servicesource International news, Director Bruce Dunlevie purchased 30,335 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were bought at an average cost of $2.98 per share, for a total transaction of $90,398.30. Following the completion of the purchase, the director now directly owns 141,182 shares in the company, valued at $420,722.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SREV. Dimensional Fund Advisors LP increased its position in shares of Servicesource International by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 798,735 shares of the technology company’s stock worth $3,043,000 after purchasing an additional 53,457 shares in the last quarter. Millennium Management LLC increased its position in shares of Servicesource International by 1,497.1% during the first quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock worth $5,428,000 after purchasing an additional 1,335,408 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Servicesource International by 2,593.8% during the second quarter. Acadian Asset Management LLC now owns 183,985 shares of the technology company’s stock worth $724,000 after purchasing an additional 177,155 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Servicesource International during the second quarter worth about $750,000. Finally, Algert Global LLC acquired a new stake in shares of Servicesource International during the second quarter worth about $249,000. Institutional investors and hedge funds own 71.18% of the company’s stock.
About Servicesource International (NASDAQ:SREV)
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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