California State Teachers Retirement System raised its position in ServiceSource International Inc. (NASDAQ:SREV) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,974 shares of the company’s stock after buying an additional 3,197 shares during the period. California State Teachers Retirement System owned about 0.15% of ServiceSource International worth $516,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of ServiceSource International during the second quarter worth about $357,000. Prescott Group Capital Management L.L.C. boosted its position in shares of ServiceSource International by 2.2% in the second quarter. Prescott Group Capital Management L.L.C. now owns 3,648,775 shares of the company’s stock valued at $14,705,000 after buying an additional 80,000 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of ServiceSource International by 7.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 45,666 shares of the company’s stock valued at $195,000 after buying an additional 3,139 shares during the period. Harvest Capital Strategies LLC boosted its position in shares of ServiceSource International by 5.6% in the first quarter. Harvest Capital Strategies LLC now owns 5,200,000 shares of the company’s stock valued at $22,152,000 after buying an additional 275,000 shares during the period. Finally, RGM Capital LLC boosted its position in shares of ServiceSource International by 2.7% in the first quarter. RGM Capital LLC now owns 6,571,647 shares of the company’s stock valued at $27,995,000 after buying an additional 171,209 shares during the period. 74.77% of the stock is owned by institutional investors.
Shares of ServiceSource International Inc. (NASDAQ:SREV) traded up 0.42% on Friday, hitting $4.75. The company’s stock had a trading volume of 119,764 shares. The company’s market cap is $407.56 million. The stock’s 50 day moving average is $4.91 and its 200-day moving average is $4.35. ServiceSource International Inc. has a 52 week low of $3.35 and a 52 week high of $5.75.
ServiceSource International (NASDAQ:SREV) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. ServiceSource International had a negative net margin of 12.68% and a negative return on equity of 7.50%. The business had revenue of $62 million for the quarter, compared to analyst estimates of $60.33 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that ServiceSource International Inc. will post ($0.01) earnings per share for the current year.
A number of research firms recently weighed in on SREV. JMP Securities upped their price target on ServiceSource International from $7.00 to $8.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 24th. TheStreet raised ServiceSource International from a “sell” rating to a “hold” rating in a research note on Wednesday, September 7th. Finally, Zacks Investment Research raised ServiceSource International from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Saturday, August 13th.
About ServiceSource International
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.
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