Servicesource International (NASDAQ:SREV) Stock Rating Lowered by Zacks Investment Research

Servicesource International (NASDAQ:SREV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Servicesource International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.

SREV opened at $0.96 on Thursday. Servicesource International has a 52 week low of $0.70 and a 52 week high of $2.73. The business has a fifty day simple moving average of $0.92 and a 200-day simple moving average of $0.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.24 and a current ratio of 2.24.

Servicesource International (NASDAQ:SREV) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Servicesource International had a negative return on equity of 5.03% and a negative net margin of 7.11%. The business had revenue of $52.36 million during the quarter, compared to analyst estimates of $55.25 million. On average, equities analysts forecast that Servicesource International will post -0.12 EPS for the current year.

In other news, CEO Gary B. Moore purchased 117,000 shares of the stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $100,620.00. Following the completion of the transaction, the chief executive officer now directly owns 818,241 shares in the company, valued at approximately $703,687.26. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. boosted its holdings in Servicesource International by 32.1% in the second quarter. Horrell Capital Management Inc. now owns 925,000 shares of the technology company’s stock valued at $879,000 after purchasing an additional 225,000 shares during the period. Acadian Asset Management LLC boosted its holdings in Servicesource International by 47.2% in the second quarter. Acadian Asset Management LLC now owns 713,245 shares of the technology company’s stock valued at $677,000 after purchasing an additional 228,669 shares during the period. Cowen Prime Services LLC boosted its holdings in Servicesource International by 281.6% in the second quarter. Cowen Prime Services LLC now owns 419,724 shares of the technology company’s stock valued at $399,000 after purchasing an additional 309,724 shares during the period. Paloma Partners Management Co purchased a new position in Servicesource International in the second quarter valued at $336,000. Finally, Jane Street Group LLC purchased a new position in Servicesource International in the second quarter valued at $206,000. Hedge funds and other institutional investors own 61.27% of the company’s stock.

Servicesource International Company Profile

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.

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