State Board of Administration of Florida Retirement System Holds Position in ServiceSource International Inc. (SREV)
State Board of Administration of Florida Retirement System held its stake in ServiceSource International Inc. (NASDAQ:SREV) during the second quarter, Holdings Channel reports. The firm owned 51,215 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.06% of ServiceSource International worth $206,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its stake in 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 last quarter. Bank of Montreal Can purchased a new stake in ServiceSource International during the second quarter valued at $357,000. California State Teachers Retirement System boosted its stake in ServiceSource International by 2.6% in the second quarter. California State Teachers Retirement System now owns 127,974 shares of the company’s stock valued at $516,000 after buying an additional 3,197 shares during the last quarter. Regis Management CO LLC purchased a new stake in ServiceSource International during the second quarter valued at $940,000. Finally, Prescott Group Capital Management L.L.C. boosted its stake in 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 last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.
Shares of ServiceSource International Inc. (NASDAQ:SREV) traded up 0.83% during trading on Wednesday, reaching $4.86. The company’s stock had a trading volume of 6,272 shares. The stock’s market cap is $417.00 million. ServiceSource International Inc. has a 52-week low of $3.35 and a 52-week high of $5.75. The stock has a 50-day moving average of $4.86 and a 200-day moving average of $4.38.
ServiceSource International (NASDAQ:SREV) last posted its earnings results on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $62 million for the quarter, compared to analysts’ expectations of $60.33 million. ServiceSource International had a negative return on equity of 7.50% and a negative net margin of 12.68%. ServiceSource International’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. Analysts predict that ServiceSource International Inc. will post ($0.01) earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. TheStreet raised ServiceSource International from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th. JMP Securities reaffirmed a “buy” rating and issued a $7.00 price objective on shares of ServiceSource International in a report on Thursday, June 23rd. Finally, Zacks Investment Research cut ServiceSource International from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th.
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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