ServiceSource International, Inc. (NASDAQ:SREV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $4.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.29% 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 analysts have also recently issued reports on the company. Northland Securities set a $5.00 target price on ServiceSource International and gave the stock a “hold” rating in a report on Friday, July 28th. BidaskClub cut ServiceSource International from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

ServiceSource International (SREV) opened at 3.50 on Wednesday. The stock’s 50 day moving average price is $3.53 and its 200-day moving average price is $3.60. ServiceSource International has a one year low of $2.82 and a one year high of $6.25. The stock’s market cap is $312.16 million.

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

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In other news, Director Gary B. Moore bought 50,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average price of $3.38 per share, for a total transaction of $169,000.00. Following the acquisition, the director now owns 143,627 shares in the company, valued at $485,459.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Carrington bought 28,429 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $3.50 per share, with a total value of $99,501.50. Following the acquisition, the chief executive officer now owns 822,473 shares in the company, valued at approximately $2,878,655.50. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 126,578 shares of company stock valued at $428,289. Corporate insiders own 17.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of ServiceSource International by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,573,405 shares of the technology company’s stock valued at $9,984,000 after acquiring an additional 92,847 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of ServiceSource International by 4.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,194,646 shares of the technology company’s stock valued at $8,515,000 after acquiring an additional 102,600 shares in the last quarter. State Street Corp grew its holdings in shares of ServiceSource International by 13.0% in the 2nd quarter. State Street Corp now owns 1,135,960 shares of the technology company’s stock valued at $4,406,000 after acquiring an additional 130,675 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ServiceSource International by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,009,493 shares of the technology company’s stock valued at $3,917,000 after acquiring an additional 24,750 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of ServiceSource International by 24.2% in the 2nd quarter. Northern Trust Corp now owns 861,516 shares of the technology company’s stock valued at $3,343,000 after acquiring an additional 167,892 shares in the last quarter. Hedge funds and other institutional investors own 74.84% 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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