inContact Inc. (SAAS) Upgraded by Zacks Investment Research to “Hold”
inContact Inc. (NASDAQ:SAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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) traded down 0.43% on Wednesday, reaching $13.89. The company had a trading volume of 701,210 shares. inContact has a 12 month low of $6.63 and a 12 month high of $13.99. The firm’s 50 day moving average is $13.93 and its 200 day moving average is $12.57. The firm’s market capitalization is $868.61 million.
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inContact (NASDAQ:SAAS) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.15. The company earned $63.80 million during the quarter, compared to analyst estimates of $62.43 million. inContact had a negative return on equity of 12.85% and a negative net margin of 7.86%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts expect that inContact will post ($0.25) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAAS. Teacher Retirement System of Texas boosted its position 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 period. Royal Bank of Canada boosted its position 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 period. BTG Pactual Global Asset Management Ltd purchased a new position in inContact during the second quarter worth approximately $139,000. Highbridge Capital Management LLC purchased a new position in inContact during the second quarter worth approximately $186,000. Finally, GSA Capital Partners LLP purchased a new position in inContact during the second quarter worth approximately $210,000. Institutional investors own 94.06% of the company’s stock.
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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