eGain (NASDAQ:EGAN) Upgraded to Buy at Wall Street Zen

eGain (NASDAQ:EGAN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

eGain Stock Up 5.3%

eGain stock opened at $6.50 on Friday. The business has a fifty day moving average of $6.32 and a two-hundred day moving average of $5.58. The firm has a market cap of $177.78 million, a P/E ratio of 5.65 and a beta of 0.30. eGain has a twelve month low of $4.34 and a twelve month high of $7.33.

eGain declared that its Board of Directors has initiated a share repurchase program on Thursday, September 4th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On eGain

A number of large investors have recently made changes to their positions in EGAN. Wells Fargo & Company MN increased its position in shares of eGain by 36.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company’s stock worth $51,000 after purchasing an additional 2,197 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of eGain by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 690,317 shares of the technology company’s stock worth $4,300,000 after purchasing an additional 1,820 shares in the last quarter. Bank of America Corp DE increased its position in shares of eGain by 8.9% during the fourth quarter. Bank of America Corp DE now owns 30,886 shares of the technology company’s stock worth $192,000 after purchasing an additional 2,525 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of eGain during the fourth quarter worth $71,000. Finally, Mackenzie Financial Corp increased its position in shares of eGain by 263.0% during the fourth quarter. Mackenzie Financial Corp now owns 90,688 shares of the technology company’s stock worth $565,000 after purchasing an additional 65,708 shares in the last quarter. 53.94% of the stock is owned by institutional investors and hedge funds.

eGain Company Profile

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.