inContact Inc. (SAAS) Raised to Hold at Zacks Investment Research
inContact Inc. (NASDAQ:SAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “inContact, Inc. operates as a hosted, software as a service company offering a range of hosted contact handling and performance management software services, in addition to a variety of connectivity options for carrying an inbound call into its inContact suite of services.The Company sells telecom services unbundled from its inContact service offering, including dedicated, switched, toll free and data lines.The company also operates as a reseller of domestic and international long distance and other services provided by national and regional wholesale providers.It was formerly known as UCN, Inc. and is based in Midvale, Utah. “
Shares of inContact (NASDAQ:SAAS) opened at 13.94 on Wednesday. The stock’s market cap is $871.74 million. The company’s 50-day moving average price is $13.88 and its 200-day moving average price is $12.18. inContact has a one year low of $6.25 and a one year high of $13.99.
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inContact (NASDAQ:SAAS) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.15. inContact had a negative return on equity of 12.85% and a negative net margin of 7.86%. The company earned $63.80 million during the quarter, compared to analyst estimates of $62.43 million. During the same quarter last year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts anticipate that inContact will post ($0.25) earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. First Republic Investment Management Inc. acquired a new stake in inContact during the first quarter worth approximately $101,000. Teacher Retirement System of Texas raised its stake in inContact by 9.2% in the second quarter. Teacher Retirement System of Texas now owns 8,240 shares of the company’s stock worth $114,000 after buying an additional 696 shares during the last quarter. Royal Bank of Canada raised its stake in inContact by 2,498.6% in the second quarter. Royal Bank of Canada now owns 9,173 shares of the company’s stock worth $127,000 after buying an additional 8,820 shares during the last quarter. BTG Pactual Global Asset Management Ltd acquired a new stake in inContact during the second quarter worth approximately $139,000. Finally, BlackRock Group LTD raised its stake in inContact by 63.5% in the first quarter. BlackRock Group LTD now owns 20,847 shares of the company’s stock worth $185,000 after buying an additional 8,097 shares during the last quarter. 94.43% of the stock is owned by institutional investors and hedge funds.
inContact Company Profile
inContact, Inc (inContact) is a provider of cloud contact center software solutions. The Company provides a range of cloud contact center call routing, self-service and agent optimization solutions. The Company operates through two business segments: Software and Network connectivity. inContact’s Software segment includes the services related to the delivery of its cloud contact center software solutions.
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