eGain (EGAN) Shares Down 11%

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.



eGain (NASDAQ:EGAN) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. eGain had a net margin of 3.04% and a negative return on equity of 57.09%. The business had revenue of $17.70 million during the quarter, compared to analyst estimates of $16.28 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that eGain Corp will post 0.13 EPS for the current fiscal year.

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.

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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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