eGain Corp (NASDAQ:EGAN) fell 11% during mid-day trading on Thursday . The stock traded as low as $11.02 and last traded at $11.09. 1,148,641 shares traded hands during mid-day trading, an increase of 194% from the average session volume of 391,243 shares. The stock had previously closed at $12.46.
Several research firms recently issued reports on EGAN. Zacks Investment Research raised shares of eGain from a “hold” rating to a “strong-buy” rating and set a $9.25 target price for the company in a report on Friday, November 16th. Roth Capital reissued a “buy” rating on shares of eGain in a report on Friday, February 8th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. eGain currently has an average rating of “Buy” and an average target price of $13.31.
The firm has a market capitalization of $347.63 million, a PE ratio of 113.09, a P/E/G ratio of 3.19 and a beta of 0.53.
In related news, Director Brett A. Shockley sold 61,524 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $11.58, for a total value of $712,447.92. Following the completion of the transaction, the director now directly owns 986,213 shares of the company’s stock, valued at $11,420,346.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Eric Smit sold 4,000 shares of the firm’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $9.50, for a total transaction of $38,000.00. Following the completion of the transaction, the chief financial officer now directly owns 142,187 shares of the company’s stock, valued at $1,350,776.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,208 shares of company stock valued at $1,577,625. Insiders own 38.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of EGAN. Northern Trust Corp grew its holdings in shares of eGain by 310.7% in the second quarter. Northern Trust Corp now owns 206,113 shares of the technology company’s stock valued at $3,113,000 after purchasing an additional 155,931 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in eGain in the third quarter worth $202,000. Chicago Equity Partners LLC bought a new stake in eGain in the third quarter worth $423,000. Wells Fargo & Company MN lifted its position in shares of eGain by 107.7% during the third quarter. Wells Fargo & Company MN now owns 34,500 shares of the technology company’s stock worth $279,000 after purchasing an additional 17,888 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of eGain during the third quarter worth $254,000. 77.48% of the stock is owned by hedge funds and other institutional investors.
About eGain (NASDAQ:EGAN)
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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