ServiceSource International, Inc. (NASDAQ:SREV) Position Decreased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lowered its stake in shares of ServiceSource International, Inc. (NASDAQ:SREV) by 10.3% during the first quarter, Holdings Channel reports. The firm owned 364,259 shares of the technology company’s stock after selling 41,649 shares during the period. TIAA CREF Investment Management LLC’s holdings in ServiceSource International were worth $1,413,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SREV. Russell Investments Group Ltd. bought a new position in ServiceSource International during the fourth quarter valued at about $141,000. State Street Corp increased its position in ServiceSource International by 7.1% in the fourth quarter. State Street Corp now owns 1,010,456 shares of the technology company’s stock valued at $5,742,000 after buying an additional 67,382 shares during the period. Norges Bank bought a new position in ServiceSource International during the fourth quarter valued at about $4,577,000. Teachers Advisors LLC increased its position in ServiceSource International by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 200,736 shares of the technology company’s stock valued at $1,140,000 after buying an additional 2,291 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in ServiceSource International by 34.3% in the first quarter. Essex Investment Management Co. LLC now owns 229,374 shares of the technology company’s stock valued at $890,000 after buying an additional 58,545 shares during the period. Hedge funds and other institutional investors own 67.25% of the company’s stock.
ServiceSource International, Inc. (NASDAQ:SREV) traded up 0.85% during trading on Friday, hitting $3.55. 197,408 shares of the stock traded hands. The company’s market cap is $316.62 million. The company’s 50 day moving average price is $3.80 and its 200 day moving average price is $3.95. ServiceSource International, Inc. has a 12 month low of $2.82 and a 12 month high of $6.25.
ServiceSource International (NASDAQ:SREV) last posted its earnings results on Monday, August 7th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $58.30 million during the quarter, compared to analysts’ expectations of $56.26 million. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. On average, equities research analysts anticipate that ServiceSource International, Inc. will post $0.06 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on SREV shares. Zacks Investment Research upgraded shares of ServiceSource International from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub downgraded shares of ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Northland Securities set a $5.00 price objective on shares of ServiceSource International and gave the company a “hold” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. ServiceSource International has an average rating of “Hold” and a consensus target price of $5.58.
ServiceSource International Company Profile
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).
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