ServiceSource International (NASDAQ:SREV) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of ServiceSource International (NASDAQ:SREV – Get Rating) in a report released on Friday. The brokerage set a “hold” rating on the technology company’s stock.

Separately, TheStreet upgraded ServiceSource International from a “d+” rating to a “c-” rating in a research report on Wednesday, March 2nd.

ServiceSource International stock opened at $1.43 on Friday. ServiceSource International has a 12 month low of $0.93 and a 12 month high of $1.63. The business’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.15. The company has a market capitalization of $142.91 million, a price-to-earnings ratio of -10.21 and a beta of 1.68.

ServiceSource International (NASDAQ:SREV – Get Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The technology company reported $0.04 EPS for the quarter. The company had revenue of $55.80 million during the quarter. ServiceSource International had a negative return on equity of 5.18% and a negative net margin of 7.52%.

In related news, major shareholder Edenbrook Capital, Llc purchased 37,587 shares of the business’s stock in a transaction on Monday, April 25th. The stock was acquired at an average price of $1.11 per share, with a total value of $41,721.57. Following the completion of the acquisition, the insider now owns 20,978,987 shares of the company’s stock, valued at approximately $23,286,675.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 408,678 shares of company stock valued at $513,535 in the last three months. 4.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of ServiceSource International by 0.6% in the first quarter. BlackRock Inc. now owns 1,274,130 shares of the technology company’s stock worth $1,656,000 after acquiring an additional 7,923 shares during the period. AMH Equity Ltd boosted its stake in shares of ServiceSource International by 5.6% in the first quarter. AMH Equity Ltd now owns 2,369,290 shares of the technology company’s stock worth $3,080,000 after acquiring an additional 124,928 shares during the period. Virtu Financial LLC bought a new position in shares of ServiceSource International in the fourth quarter worth about $60,000. Lynrock Lake LP boosted its stake in shares of ServiceSource International by 116.2% in the fourth quarter. Lynrock Lake LP now owns 7,346,817 shares of the technology company’s stock worth $7,274,000 after acquiring an additional 3,948,145 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of ServiceSource International by 2.5% in the fourth quarter. Millennium Management LLC now owns 1,245,846 shares of the technology company’s stock worth $1,234,000 after acquiring an additional 30,615 shares during the period. 73.55% of the stock is owned by hedge funds and other institutional investors.

ServiceSource International Company Profile (Get Rating)

ServiceSource International, Inc provides business process-as-a-service solutions worldwide. The company provides digital solutions, including demand qualification, demand conversion, and account management; customer success solutions, such as onboarding, adoption, and renewals management; CJX solutions; and channel management solutions comprise partner recruitment, partner onboarding and enablement, and partner success management.

See Also