Longfellow Investment Management Co. LLC Buys Shares of 739,112 inContact Inc. (SAAS)

Longfellow Investment Management Co. LLC purchased a new stake in shares of inContact Inc. (NASDAQ:SAAS) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 739,112 shares of the company’s stock, valued at approximately $10,237,000. inContact accounts for about 3.6% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its 9th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in inContact during the second quarter valued at $22,245,000. Chicago Capital Management LLC purchased a new position in inContact during the second quarter valued at $12,369,000. Kassirer Asset Management Corp purchased a new position in inContact during the second quarter valued at $6,242,000. Goldman Sachs Group Inc. boosted its position in inContact by 995.8% in the first quarter. Goldman Sachs Group Inc. now owns 312,328 shares of the company’s stock valued at $2,777,000 after buying an additional 283,826 shares during the last quarter. Finally, LMR Partners LLP purchased a new position in inContact during the second quarter valued at $2,771,000. 94.06% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for inContact (NASDAQ:SAAS)

Shares of inContact Inc. (NASDAQ:SAAS) traded down 0.22% during trading on Tuesday, reaching $13.90. The company had a trading volume of 422,083 shares. The stock’s market capitalization is $869.24 million. inContact Inc. has a 1-year low of $7.11 and a 1-year high of $13.99. The company’s 50 day moving average is $13.94 and its 200-day moving average is $12.80.

inContact (NASDAQ:SAAS) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.15. inContact had a negative net margin of 7.86% and a negative return on equity of 12.85%. The business had revenue of $63.80 million for the quarter, compared to analyst estimates of $62.43 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that inContact Inc. will post ($0.25) earnings per share for the current year.

Separately, Zacks Investment Research raised inContact from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. inContact currently has an average rating of “Hold” and an average price target of $12.75.

About inContact

inContact, Inc (inContact) is a provider of cloud contact center software solutions. The Company provides a range of cloud contact center call routing, self-service and agent optimization solutions. The Company operates through two business segments: Software and Network connectivity. inContact’s Software segment includes the services related to the delivery of its cloud contact center software solutions.

5 Day Chart for NASDAQ:SAAS

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