ServiceSource International, Inc. (NASDAQ:SREV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $4.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.42% from the company’s previous close.

According to Zacks, “ServiceSource provides a suite of cloud applications for service revenue management. The Company provides end-to-end management and optimization of the service contract renewals process, including data management, quoting, selling and service revenue business intelligence. Its solution is based on the proprietary Service Revenue Intelligence Platform, a data warehouse that incorporates transactional, analytical and industry data gathered from over two million service renewal transactions. The Company’s offering finds its application in all industries. ServiceSource is headquartered in San Francisco, California. “

A number of other equities research analysts also recently commented on the company. Northland Securities set a $5.00 target price on ServiceSource International and gave the company a “hold” rating in a report on Friday, July 28th. BidaskClub lowered ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

ServiceSource International (NASDAQ:SREV) traded down 0.55% during trading on Thursday, reaching $3.59. The company’s stock had a trading volume of 237,537 shares. ServiceSource International has a 52 week low of $2.82 and a 52 week high of $6.25. The firm’s market capitalization is $320.19 million. The firm has a 50-day moving average price of $3.53 and a 200-day moving average price of $3.61.

ServiceSource International (NASDAQ:SREV) last announced its quarterly earnings data on Monday, August 7th. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. ServiceSource International had a negative return on equity of 3.70% and a negative net margin of 17.26%. The company had revenue of $58.30 million during the quarter, compared to the consensus estimate of $56.26 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities analysts anticipate that ServiceSource International will post $0.06 EPS for the current fiscal year.

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In other ServiceSource International news, CEO Christopher Carrington bought 28,429 shares of ServiceSource International stock in a transaction dated Friday, September 8th. The stock was bought at an average price of $3.50 per share, for a total transaction of $99,501.50. Following the completion of the acquisition, the chief executive officer now directly owns 822,473 shares of the company’s stock, valued at $2,878,655.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven Cakebread sold 29,692 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $3.22, for a total value of $95,608.24. Following the completion of the sale, the director now owns 64,943 shares of the company’s stock, valued at approximately $209,116.46. The disclosure for this sale can be found here. Insiders bought 126,578 shares of company stock valued at $428,289 in the last 90 days. Corporate insiders own 30.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SREV. Bank of New York Mellon Corp increased its stake in shares of ServiceSource International by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 342,186 shares of the technology company’s stock worth $1,328,000 after acquiring an additional 4,526 shares during the last quarter. American International Group Inc. increased its stake in shares of ServiceSource International by 7.1% in the first quarter. American International Group Inc. now owns 37,580 shares of the technology company’s stock worth $146,000 after acquiring an additional 2,484 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ServiceSource International by 10.7% in the first quarter. Vanguard Group Inc. now owns 2,480,558 shares of the technology company’s stock worth $9,624,000 after acquiring an additional 240,079 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of ServiceSource International by 6.0% in the first quarter. Geode Capital Management LLC now owns 507,246 shares of the technology company’s stock worth $1,968,000 after acquiring an additional 28,589 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of ServiceSource International by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 472,899 shares of the technology company’s stock worth $1,835,000 after acquiring an additional 15,939 shares during the last quarter. Institutional investors own 74.94% of the company’s stock.

ServiceSource International Company Profile

ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).

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