Servicesource International Inc (NASDAQ:SREV) saw a significant increase in short interest in the month of September. As of September 28th, there was short interest totalling 1,998,662 shares, an increase of 42.9% from the September 14th total of 1,398,411 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average daily trading volume, of 422,920 shares, the days-to-cover ratio is currently 4.7 days.
Shares of Servicesource International stock opened at $2.53 on Friday. The firm has a market cap of $261.75 million, a price-to-earnings ratio of 31.63 and a beta of 1.03. Servicesource International has a 12-month low of $2.49 and a 12-month high of $4.47.
Servicesource International (NASDAQ:SREV) last issued its quarterly earnings data on Monday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. The business had revenue of $61.11 million for the quarter, compared to the consensus estimate of $59.47 million. Servicesource International had a negative net margin of 10.52% and a positive return on equity of 0.73%. As a group, equities research analysts predict that Servicesource International will post -0.01 earnings per share for the current year.
In other news, Director Bruce Dunlevie bought 30,335 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average cost of $2.98 per share, with a total value of $90,398.30. Following the completion of the purchase, the director now directly owns 141,182 shares in the company, valued at $420,722.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of SREV. Harvest Capital Strategies LLC increased its position in Servicesource International by 21.2% during the 1st quarter. Harvest Capital Strategies LLC now owns 8,302,914 shares of the technology company’s stock valued at $31,634,000 after purchasing an additional 1,454,088 shares during the period. Millennium Management LLC increased its position in Servicesource International by 1,497.1% during the 1st quarter. Millennium Management LLC now owns 1,424,607 shares of the technology company’s stock valued at $5,428,000 after purchasing an additional 1,335,408 shares during the period. Renaissance Technologies LLC increased its position in Servicesource International by 42.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,374,367 shares of the technology company’s stock valued at $17,235,000 after purchasing an additional 1,307,221 shares during the period. Russell Investments Group Ltd. purchased a new position in Servicesource International during the 1st quarter valued at $3,856,000. Finally, Lyon Street Capital LLC increased its position in Servicesource International by 138.1% during the 1st quarter. Lyon Street Capital LLC now owns 1,118,397 shares of the technology company’s stock valued at $4,261,000 after purchasing an additional 648,775 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.
SREV has been the topic of a number of research analyst reports. B. Riley set a $5.00 price objective on shares of Servicesource International and gave the company a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research downgraded shares of Servicesource International from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 11th. Finally, BidaskClub downgraded shares of Servicesource International from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 20th.
About Servicesource International
ServiceSource International, Inc provides recurring revenue management, maintenance, support, and subscription for technology and technology-enabled healthcare and life sciences companies. The company's solutions include outsourced sales operations, customer onboarding, customer success management, cross-sell and upsell, warranty conversion, account-based marketing, and channel recruitment and enablement, as well as renewals management, including the sale of maintenance and support service contracts for the products used by its clients' end-users.
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