Insider Selling: inContact Insider Sells 2,000 Shares of Stock (SAAS)
inContact (NASDAQ:SAAS) Insider Bassam Salem unloaded 2,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $9.13, for a total value of $18,260.00. Following the transaction, the insider now directly owns 32,424 shares of the company’s stock, valued at approximately $296,031. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SAAS has been the subject of a number of recent research reports. Analysts at Benchmark Co. upgraded shares of inContact from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. Analysts at Oppenheimer upgraded shares of inContact from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $12.00 price target on the stock. They noted that the move was a valuation call.
inContact (NASDAQ:SAAS) traded down 0.22% during mid-day trading on Tuesday, hitting $9.15. 13,069 shares of the company’s stock traded hands. inContact has a 52-week low of $6.93 and a 52-week high of $10.54. The stock has a 50-day moving average of $8.54 and a 200-day moving average of $8.72. The company’s market cap is $556.5 million.
inContact (NASDAQ:SAAS) last announced its earnings results on Wednesday, August 6th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.14. The company had revenue of $41.10 million for the quarter, compared to the consensus estimate of $40.44 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 32.2% on a year-over-year basis. On average, analysts predict that inContact will post $-0.17 earnings per share for the current fiscal year.
inContact, Inc (NASDAQ:SAAS) is a provider of cloud-based contact center solutions.
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