Short Interest in Servicesource International Inc (NASDAQ:SREV) Decreases By 26.3%

Servicesource International Inc (NASDAQ:SREV) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 1,850,000 shares, a decrease of 26.3% from the June 30th total of 2,510,000 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 501,800 shares, the days-to-cover ratio is currently 3.7 days.

Servicesource International stock opened at $1.56 on Friday. The firm has a 50-day moving average of $1.62 and a 200-day moving average of $1.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.63 and a current ratio of 1.66. Servicesource International has a one year low of $0.53 and a one year high of $2.10.

Servicesource International (NASDAQ:SREV) last released its earnings results on Wednesday, July 29th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The business had revenue of $47.64 million for the quarter, compared to analyst estimates of $43.00 million. Servicesource International had a negative return on equity of 8.76% and a negative net margin of 8.85%. Analysts forecast that Servicesource International will post -0.11 EPS for the current year.

Several research analysts have recently weighed in on SREV shares. B. Riley upped their price target on shares of Servicesource International from $1.75 to $2.00 in a report on Monday, June 22nd. Zacks Investment Research cut Servicesource International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th.

In other news, major shareholder Edenbrook Capital, Llc acquired 540,400 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $1.22 per share, for a total transaction of $659,288.00. Also, Director Robin L. Smith acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $1.70 per share, for a total transaction of $85,000.00. Following the purchase, the director now directly owns 167,975 shares in the company, valued at approximately $285,557.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,760,354 shares of company stock valued at $2,526,149. 9.50% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Servicesource International by 17.4% during the first quarter. Wells Fargo & Company MN now owns 119,512 shares of the technology company’s stock worth $105,000 after buying an additional 17,721 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Servicesource International by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 523,879 shares of the technology company’s stock worth $874,000 after acquiring an additional 14,826 shares during the period. King Luther Capital Management Corp boosted its position in shares of Servicesource International by 70.0% during the 1st quarter. King Luther Capital Management Corp now owns 680,000 shares of the technology company’s stock worth $596,000 after acquiring an additional 280,000 shares in the last quarter. Credit Suisse AG bought a new position in Servicesource International in the fourth quarter valued at approximately $218,000. Finally, UBS Group AG bought a new stake in Servicesource International during the second quarter worth $52,000. 64.44% of the stock is owned by institutional investors and hedge funds.

Servicesource International Company Profile

ServiceSource International, Inc operates as a digital customer journey experience company. Its solutions include lead generation, inside sales, 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 services, such as the sale of maintenance and support service contracts for the products used by its clients' end-users.

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