Servicesource International (NASDAQ:SREV) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Servicesource International (NASDAQ:SREV) from a buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

Separately, ValuEngine downgraded shares of Servicesource International from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has an average rating of Hold and an average price target of $1.13.

Shares of Servicesource International stock traded down $0.01 during midday trading on Thursday, hitting $0.89. The company had a trading volume of 1,100 shares, compared to its average volume of 101,807. The company’s 50 day moving average price is $0.96. The company has a market cap of $84.12 million, a PE ratio of -22.50 and a beta of 1.46. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.32. Servicesource International has a 1-year low of $0.85 and a 1-year high of $3.88.

Servicesource International (NASDAQ:SREV) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $55.51 million for the quarter, compared to the consensus estimate of $53.16 million. Servicesource International had a negative net margin of 8.06% and a negative return on equity of 4.20%. Equities analysts predict that Servicesource International will post -0.14 earnings per share for the current fiscal year.

In related news, CEO Gary B. Moore acquired 100,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $0.98 per share, with a total value of $98,000.00. Following the completion of the acquisition, the chief executive officer now owns 806,198 shares in the company, valued at $790,074.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Fiduciary Trust Co. bought a new position in shares of Servicesource International during the first quarter valued at $31,000. Cowen Prime Services LLC lifted its holdings in shares of Servicesource International by 2,100.0% during the first quarter. Cowen Prime Services LLC now owns 110,000 shares of the technology company’s stock valued at $101,000 after acquiring an additional 105,000 shares during the period. B. Riley Financial Inc. bought a new position in shares of Servicesource International during the first quarter valued at $101,000. Bank of America Corp DE lifted its holdings in shares of Servicesource International by 96.5% during the fourth quarter. Bank of America Corp DE now owns 184,240 shares of the technology company’s stock valued at $198,000 after acquiring an additional 90,465 shares during the period. Finally, Spark Investment Management LLC lifted its holdings in shares of Servicesource International by 13.4% during the first quarter. Spark Investment Management LLC now owns 192,290 shares of the technology company’s stock valued at $177,000 after acquiring an additional 22,690 shares during the period. 68.37% of the stock is owned by institutional investors.

Servicesource International Company Profile

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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