Servicesource International (NASDAQ:SREV) Issues Earnings Results

Servicesource International (NASDAQ:SREV) released its earnings results on Wednesday. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01, Morningstar.com reports. Servicesource International had a negative net margin of 7.11% and a negative return on equity of 4.94%. The company had revenue of $52.36 million during the quarter, compared to the consensus estimate of $55.25 million. Servicesource International updated its FY 2019 guidance to EPS.

Shares of NASDAQ:SREV traded up $0.01 during trading on Friday, hitting $0.77. 299,002 shares of the company’s stock were exchanged, compared to its average volume of 118,577. The company has a market capitalization of $79.77 million, a price-to-earnings ratio of -19.25 and a beta of 1.46. The company’s 50-day moving average is $0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.26 and a current ratio of 2.26. Servicesource International has a 1-year low of $0.73 and a 1-year high of $3.57.

A number of research firms recently issued reports on SREV. ValuEngine lowered shares of Servicesource International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Servicesource International from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $1.13.

In related news, CEO Gary B. Moore purchased 100,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $0.98 per share, with a total value of $98,000.00. Following the completion of the purchase, the chief executive officer now owns 806,198 shares in the company, valued at approximately $790,074.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Servicesource International by 62.5% in the fourth quarter. Geode Capital Management LLC now owns 1,183,158 shares of the technology company’s stock valued at $1,277,000 after purchasing an additional 455,237 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Servicesource International by 24.9% during the fourth quarter. Two Sigma Advisers LP now owns 565,505 shares of the technology company’s stock worth $611,000 after purchasing an additional 112,700 shares during the last quarter. Bank of America Corp DE lifted its stake in Servicesource International by 96.5% in the fourth quarter. Bank of America Corp DE now owns 184,240 shares of the technology company’s stock valued at $198,000 after acquiring an additional 90,465 shares during the last quarter. Norges Bank acquired a new stake in Servicesource International in the fourth quarter valued at $574,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Servicesource International by 28.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 593,730 shares of the technology company’s stock worth $547,000 after buying an additional 132,404 shares during the last quarter. Institutional investors and hedge funds own 68.37% of the company’s stock.

About Servicesource International

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, 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 services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

See Also: Book Value Per Share – BVPS

Earnings History for Servicesource International (NASDAQ:SREV)

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