Zacks Investment Research upgraded shares of Servicesource International (NASDAQ:SREV) from a strong sell rating to a hold rating in a research report report published on Wednesday morning.

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. “

Several other research analysts also recently issued reports on the stock. B. Riley set a $5.00 target price on shares of Servicesource International and gave the stock a buy rating in a research note on Friday, September 21st. BidaskClub downgraded shares of Servicesource International from a sell rating to a strong sell rating in a research report on Thursday, September 20th.

Shares of NASDAQ SREV traded down $0.06 during midday trading on Wednesday, hitting $2.53. The stock had a trading volume of 1,003,105 shares, compared to its average volume of 381,694. The company has a market cap of $261.75 million, a PE ratio of 31.63 and a beta of 1.03. Servicesource International has a 52 week low of $2.49 and a 52 week high of $4.47.

Servicesource International (NASDAQ:SREV) last issued its earnings results on Monday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting the 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 negative net margin of 10.52% and a positive return on equity of 0.73%. As a group, equities research analysts forecast that Servicesource International will post -0.01 earnings per share for the current year.

In related news, Director Bruce Dunlevie acquired 30,335 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average price of $2.98 per share, for a total transaction of $90,398.30. Following the completion of the transaction, the director now directly owns 141,182 shares in the company, valued at $420,722.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SREV. MetLife Investment Advisors LLC bought a new position in Servicesource International during the first quarter valued at approximately $143,000. Algert Global LLC bought a new position in Servicesource International in the second quarter worth approximately $249,000. Dynamic Technology Lab Private Ltd bought a new position in Servicesource International in the first quarter worth approximately $288,000. Citadel Advisors LLC raised its position in Servicesource International by 748.9% in the second quarter. Citadel Advisors LLC now owns 87,807 shares of the technology company’s stock worth $346,000 after acquiring an additional 77,463 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Servicesource International in the second quarter worth approximately $360,000. Institutional investors own 71.18% 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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