Servicesource International (SREV) Upgraded to Sell at BidaskClub

Servicesource International (NASDAQ:SREV) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other research firms also recently issued reports on SREV. Northland Securities reissued a “hold” rating and set a $5.25 price target on shares of Servicesource International in a research report on Friday, October 6th. Zacks Investment Research raised Servicesource International from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research report on Thursday, October 19th.

Servicesource International (SREV) traded up $0.09 during mid-day trading on Tuesday, reaching $3.05. The company’s stock had a trading volume of 199,935 shares, compared to its average volume of 231,497. Servicesource International has a 1 year low of $2.61 and a 1 year high of $6.10.

Servicesource International (NASDAQ:SREV) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. Servicesource International had a negative return on equity of 1.35% and a negative net margin of 15.89%. The firm had revenue of $58.10 million during the quarter, compared to the consensus estimate of $56.55 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. equities research analysts forecast that Servicesource International will post -0.02 EPS for the current year.

In related news, CEO Christopher Carrington bought 33,900 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $2.95 per share, with a total value of $100,005.00. Following the completion of the transaction, the chief executive officer now directly owns 853,202 shares of the company’s stock, valued at $2,516,945.90. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 17.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Servicesource International by 2.0% in the second quarter. Goldman Sachs Group Inc. now owns 40,261 shares of the technology company’s stock worth $156,000 after buying an additional 794 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Servicesource International by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 263,112 shares of the technology company’s stock worth $1,021,000 after buying an additional 1,615 shares during the period. Bank of Montreal Can boosted its position in shares of Servicesource International by 2.7% in the second quarter. Bank of Montreal Can now owns 90,934 shares of the technology company’s stock worth $353,000 after buying an additional 2,370 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Servicesource International by 11.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 43,342 shares of the technology company’s stock worth $168,000 after buying an additional 4,430 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Servicesource International by 17.1% in the second quarter. Alliancebernstein L.P. now owns 43,920 shares of the technology company’s stock worth $170,000 after buying an additional 6,400 shares during the period. 68.49% of the stock is owned by institutional investors.

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About Servicesource International

ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).

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