Rhumbline Advisers lifted its stake in shares of Servicesource International Inc (NASDAQ:SREV) by 61.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,060 shares of the technology company’s stock after acquiring an additional 40,995 shares during the quarter. Rhumbline Advisers’ holdings in Servicesource International were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of SREV. MetLife Investment Advisors LLC purchased a new stake in shares of Servicesource International during the first quarter worth $143,000. Engineers Gate Manager LP purchased a new stake in shares of Servicesource International during the first quarter worth $195,000. Algert Global LLC purchased a new stake in shares of Servicesource International during the second quarter worth $249,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Servicesource International during the first quarter worth $288,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Servicesource International during the first quarter worth $296,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.
SREV has been the topic of a number of recent research reports. BidaskClub lowered Servicesource International from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. B. Riley set a $5.00 price objective on Servicesource International and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research lowered Servicesource International from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 11th. Finally, ValuEngine raised Servicesource International from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.75.
NASDAQ:SREV opened at $2.89 on Friday. The firm has a market capitalization of $258.07 million, a P/E ratio of 36.13 and a beta of 1.01. Servicesource International Inc has a 12 month low of $2.61 and a 12 month high of $4.47.
Servicesource International (NASDAQ:SREV) last posted its earnings results on Monday, August 6th. The technology company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $61.11 million for the quarter, compared to analyst estimates 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 expect that Servicesource International Inc will post -0.01 EPS for the current fiscal year.
In other Servicesource International news, Director Bruce Dunlevie bought 30,335 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average price of $2.98 per share, with a total value of $90,398.30. Following the completion of the acquisition, the director now directly owns 141,182 shares of the company’s stock, valued at approximately $420,722.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.00% of the company’s stock.
About Servicesource International
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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