Boston Partners decreased its position in shares of Servicesource International Inc (NASDAQ:SREV) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,276 shares of the technology company’s stock after selling 47,613 shares during the quarter. Boston Partners’ holdings in Servicesource International were worth $3,059,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Servicesource International during the 1st quarter valued at $143,000. Engineers Gate Manager LP acquired a new position in Servicesource International during the 1st quarter worth about $195,000. Algert Global LLC acquired a new position in Servicesource International during the 2nd quarter worth about $249,000. Millennium Management LLC lifted its holdings in Servicesource International by 21.3% during the 4th quarter. Millennium Management LLC now owns 89,199 shares of the technology company’s stock worth $276,000 after buying an additional 15,648 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Servicesource International during the 1st quarter worth about $288,000. 73.20% of the stock is currently owned by institutional investors.
Several brokerages have commented on SREV. ValuEngine raised Servicesource International from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. BidaskClub downgraded Servicesource International from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. Finally, Zacks Investment Research downgraded Servicesource International from a “hold” rating to a “sell” rating in a report on Thursday, May 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.75.
Shares of SREV opened at $3.27 on Wednesday. The stock has a market cap of $291.14 million, a price-to-earnings ratio of 40.88 and a beta of 0.90. Servicesource International Inc has a 12 month low of $2.61 and a 12 month high of $4.47.
Servicesource International (NASDAQ:SREV) last announced its earnings results on Monday, August 6th. The technology company reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The firm had revenue of $61.11 million for the quarter, compared to the consensus estimate of $59.47 million. Servicesource International had a positive return on equity of 0.73% and a negative net margin of 10.52%. equities analysts anticipate that Servicesource International Inc will post -0.01 earnings per share for the current fiscal year.
In related news, Director Bruce Dunlevie bought 30,335 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average cost of $2.98 per share, with a total value of $90,398.30. Following the acquisition, the director now owns 141,182 shares of the company’s stock, valued at $420,722.36. The purchase was disclosed in a filing with the SEC, which is available through this link. 19.00% of the stock is currently owned by insiders.
Servicesource International Company Profile
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include 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, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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