Two Sigma Advisers LP increased its position in ServiceSource (NASDAQ:SREV) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,668 shares of the technology company’s stock after buying an additional 38,863 shares during the period. Two Sigma Advisers LP owned 0.26% of ServiceSource worth $722,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of ServiceSource by 0.8% in the 4th quarter. BlackRock Inc. now owns 4,676,802 shares of the technology company’s stock worth $14,450,000 after buying an additional 35,525 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ServiceSource by 2.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,282,500 shares of the technology company’s stock worth $7,053,000 after purchasing an additional 65,354 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ServiceSource by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 599,331 shares of the technology company’s stock worth $2,074,000 after purchasing an additional 26,440 shares during the period. Emancipation Management LLC bought a new stake in shares of ServiceSource in the 4th quarter worth approximately $1,290,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of ServiceSource by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 368,446 shares of the technology company’s stock worth $1,275,000 after purchasing an additional 16,646 shares during the period. Institutional investors own 67.60% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of ServiceSource from a “sell” rating to a “hold” rating in a report on Friday, February 16th. BidaskClub upgraded shares of ServiceSource from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. ValuEngine downgraded shares of ServiceSource from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, B. Riley assumed coverage on shares of ServiceSource in a research note on Tuesday, March 27th. They set a “buy” rating and a $5.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.75.
ServiceSource (NASDAQ:SREV) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The business had revenue of $66.00 million for the quarter, compared to analysts’ expectations of $62.49 million. ServiceSource had a negative net margin of 12.48% and a positive return on equity of 4.46%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. analysts expect that ServiceSource will post -0.01 EPS for the current fiscal year.
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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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