California Public Employees Retirement System Has $870,000 Holdings in ServiceSource International, Inc. (SREV)

California Public Employees Retirement System continued to hold its stake in shares of ServiceSource International, Inc. (NASDAQ:SREV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 224,200 shares of the technology company’s stock at the end of the 2nd quarter. California Public Employees Retirement System owned 0.25% of ServiceSource International worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of ServiceSource International by 3.7% in the second quarter. Vanguard Group Inc. now owns 2,573,405 shares of the technology company’s stock valued at $9,984,000 after purchasing an additional 92,847 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ServiceSource International by 24.2% in the second quarter. Northern Trust Corp now owns 861,516 shares of the technology company’s stock valued at $3,343,000 after purchasing an additional 167,892 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of ServiceSource International by 37.2% in the second quarter. New York State Common Retirement Fund now owns 73,800 shares of the technology company’s stock valued at $286,000 after purchasing an additional 19,999 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of ServiceSource International by 21.7% in the second quarter. Nationwide Fund Advisors now owns 42,721 shares of the technology company’s stock valued at $166,000 after purchasing an additional 7,607 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of ServiceSource International by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 1,009,493 shares of the technology company’s stock valued at $3,917,000 after purchasing an additional 24,750 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.

Several brokerages have recently commented on SREV. Zacks Investment Research upgraded shares of ServiceSource International from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Wednesday, October 25th. Northland Securities set a $5.00 target price on shares of ServiceSource International and gave the company a “hold” rating in a report on Friday, July 28th. Finally, BidaskClub upgraded shares of ServiceSource International from a “sell” rating to a “hold” rating in a report on Friday, August 25th.

Shares of ServiceSource International, Inc. (NASDAQ SREV) opened at $2.76 on Wednesday. ServiceSource International, Inc. has a 1-year low of $2.67 and a 1-year high of $6.25.

ServiceSource International (NASDAQ:SREV) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. ServiceSource International had a negative net margin of 15.89% and a negative return on equity of 1.35%. The company had revenue of $58.10 million during the quarter, compared to the consensus estimate of $56.55 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. analysts forecast that ServiceSource International, Inc. will post -0.02 earnings per share for the current fiscal year.

In related news, Director Steven Cakebread sold 60,853 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $3.27, for a total transaction of $198,989.31. Following the completion of the sale, the director now owns 64,943 shares in the company, valued at $212,363.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Carrington acquired 28,429 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average price of $3.50 per share, with a total value of $99,501.50. Following the acquisition, the chief executive officer now directly owns 822,473 shares of the company’s stock, valued at approximately $2,878,655.50. The disclosure for this purchase can be found here. Insiders have purchased 126,578 shares of company stock valued at $428,289 in the last 90 days. 17.90% of the stock is currently owned by corporate insiders.

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ServiceSource International Profile

ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that power enterprise revenue relationships, partnering with business to business technology and technology-enabled companies. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI).

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Institutional Ownership by Quarter for ServiceSource International (NASDAQ:SREV)

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