Connor Clark & Lunn Investment Management Ltd. Has $1.83 Million Stock Holdings in 8×8 Inc $EGHT

Connor Clark & Lunn Investment Management Ltd. raised its position in 8×8 Inc (NASDAQ:EGHT) by 19.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 932,992 shares of the company’s stock after buying an additional 151,308 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.69% of 8X8 worth $1,829,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Williams & Novak LLC boosted its position in shares of 8X8 by 35.8% during the second quarter. Williams & Novak LLC now owns 32,005 shares of the company’s stock worth $63,000 after purchasing an additional 8,430 shares in the last quarter. Cerity Partners LLC lifted its position in 8X8 by 34.8% during the first quarter. Cerity Partners LLC now owns 38,068 shares of the company’s stock worth $76,000 after acquiring an additional 9,829 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of 8X8 by 359.7% in the second quarter. Nisa Investment Advisors LLC now owns 13,042 shares of the company’s stock valued at $26,000 after acquiring an additional 10,205 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 8X8 by 46.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,880 shares of the company’s stock worth $75,000 after purchasing an additional 11,022 shares during the period. Finally, CWM LLC lifted its position in shares of 8X8 by 33.3% during the 2nd quarter. CWM LLC now owns 49,128 shares of the company’s stock valued at $96,000 after acquiring an additional 12,274 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EGHT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of 8X8 in a report on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $2.50 price objective on shares of 8X8 in a report on Wednesday, November 5th. Morgan Stanley set a $1.90 price objective on 8X8 in a research note on Friday, August 29th. Finally, Wall Street Zen raised 8X8 from a “buy” rating to a “strong-buy” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $2.49.

8X8 Trading Down 1.0%

NASDAQ EGHT opened at $1.95 on Monday. The stock has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $1.92. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $270.35 million, a P/E ratio of -12.19, a price-to-earnings-growth ratio of 2.13 and a beta of 1.94. 8×8 Inc has a fifty-two week low of $1.52 and a fifty-two week high of $3.52.

About 8X8

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.