Evanson Asset Management LLC Continues to Hold Stake in Covisint Corporation (COVS)

Evanson Asset Management LLC maintained its stake in Covisint Corporation (NASDAQ:COVS) during the second quarter, Holdings Channel reports. The institutional investor owned 53,000 shares of the software maker’s stock at the end of the second quarter. Evanson Asset Management LLC’s holdings in Covisint Corporation were worth $130,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Covisint Corporation by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 492,225 shares of the software maker’s stock worth $1,009,000 after buying an additional 5,250 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Covisint Corporation by 2.2% in the first quarter. Neuberger Berman Group LLC now owns 3,428,952 shares of the software maker’s stock worth $7,029,000 after buying an additional 73,713 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Covisint Corporation by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 226,827 shares of the software maker’s stock worth $464,000 after buying an additional 8,963 shares during the last quarter. Renaissance Technologies LLC increased its stake in Covisint Corporation by 0.9% in the fourth quarter. Renaissance Technologies LLC now owns 905,300 shares of the software maker’s stock worth $1,720,000 after buying an additional 8,400 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Covisint Corporation during the fourth quarter worth approximately $766,000. Institutional investors own 65.51% of the company’s stock.

Covisint Corporation (NASDAQ COVS) remained flat at $2.45 during mid-day trading on Monday. The company’s stock had a trading volume of 121,590 shares. The company has a 50 day moving average price of $2.22 and a 200 day moving average price of $2.04. Covisint Corporation has a 52-week low of $1.71 and a 52-week high of $2.50. The stock’s market capitalization is $100.12 million.

Covisint Corporation (NASDAQ:COVS) last issued its quarterly earnings results on Monday, June 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. Covisint Corporation had a negative return on equity of 18.18% and a negative net margin of 18.12%. The company had revenue of $18.98 million for the quarter. On average, equities research analysts predict that Covisint Corporation will post ($0.29) EPS for the current fiscal year.

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About Covisint Corporation

Covisint Corporation provides an open, enterprise class cloud platform (Platform) enabling organizations to build solutions that identify, authenticate and connect users, devices, applications and information. The Company’s Auto Supply Portal is involved in the development and integration of three cloud-based technologies, such as identity management, data integration and exchange services, and portal services.

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Institutional Ownership by Quarter for Covisint Corporation (NASDAQ:COVS)

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