Servicesource International Inc (NASDAQ:SREV) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,162,571 shares, a decrease of 72.5% from the October 31st total of 4,229,731 shares. Based on an average daily volume of 850,611 shares, the short-interest ratio is currently 1.4 days. Approximately 1.6% of the company’s stock are short sold.
A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Servicesource International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 20th. B. Riley set a $5.00 target price on Servicesource International and gave the company a “buy” rating in a report on Friday, September 21st. Zacks Investment Research downgraded Servicesource International from a “hold” rating to a “strong sell” rating in a report on Saturday, August 11th. Finally, JMP Securities downgraded Servicesource International from an “outperform” rating to a “market perform” rating in a report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $2.00.
Large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Servicesource International by 12.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 378,287 shares of the technology company’s stock worth $1,491,000 after buying an additional 41,787 shares during the last quarter. Millennium Management LLC increased its holdings in Servicesource International by 76.9% in the second quarter. Millennium Management LLC now owns 2,519,445 shares of the technology company’s stock worth $9,927,000 after buying an additional 1,094,838 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Servicesource International by 42.6% in the second quarter. Renaissance Technologies LLC now owns 4,374,367 shares of the technology company’s stock worth $17,235,000 after buying an additional 1,307,221 shares during the last quarter. BlackRock Inc. increased its holdings in Servicesource International by 10.8% in the second quarter. BlackRock Inc. now owns 5,188,090 shares of the technology company’s stock worth $20,443,000 after buying an additional 506,561 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in Servicesource International in the second quarter worth approximately $360,000. Hedge funds and other institutional investors own 71.50% of the company’s stock.
NASDAQ:SREV opened at $1.39 on Friday. Servicesource International has a 52 week low of $1.23 and a 52 week high of $4.47. The company has a market capitalization of $126.10 million, a P/E ratio of 17.38 and a beta of 1.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.91 and a current ratio of 3.91.
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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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