Insider Buying: Servicesource International Director Acquires 34,700 Shares of Stock (SREV)
Servicesource International (NASDAQ:SREV) Director Robert G. Ashe purchased 34,700 shares of Servicesource International stock in a transaction dated Tuesday, August 26th. The stock was purchased at an average cost of $3.60 per share, with a total value of $124,920.00. Following the completion of the acquisition, the director now directly owns 54,680 shares of the company’s stock, valued at approximately $196,848. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Servicesource International (NASDAQ:SREV) traded down 2.72% on Wednesday, hitting $3.58. The stock had a trading volume of 598,231 shares. Servicesource International has a 52 week low of $3.16 and a 52 week high of $13.69. The stock’s 50-day moving average is $4.03 and its 200-day moving average is $5.89. The company’s market cap is $297.9 million.
Servicesource International (NASDAQ:SREV) last announced its earnings results on Thursday, July 31st. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.06) by $0.03. The company had revenue of $65.99 million for the quarter, compared to the consensus estimate of $69.72 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that Servicesource International will post $-0.37 earnings per share for the current fiscal year.
A number of research firms have recently commented on SREV. Analysts at Zacks downgraded shares of Servicesource International from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 6th. They now have a $3.10 price target on the stock. Separately, analysts at JMP Securities downgraded shares of Servicesource International from an “outperform” rating to a “market perform” rating in a research note on Friday, August 1st. They now have a $9.00 price target on the stock. Finally, analysts at Northland Securities reiterated an “outperform” rating on shares of Servicesource International in a research note on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Servicesource International currently has a consensus rating of “Hold” and an average price target of $8.65.
ServiceSource International, Inc (NASDAQ:SREV), formerly ServiceSource International, LLC, is a service revenue management company.
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