1492 Capital Management Lowers stake in Incontact Inc (SAAS)

Incontact Inc (SAAS) : 1492 Capital Management reduced its stake in Incontact Inc by 8.01% during the most recent quarter end. The investment management company now holds a total of 651,698 shares of Incontact Inc which is valued at $6.2 Million after selling 56,770 shares in Incontact Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.Incontact Inc makes up approximately 5.35% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp added SAAS to its portfolio by purchasing 97,273 company shares during the most recent quarter which is valued at $927,984. Incontact Inc makes up approx 0.11% of Trexquant Investment Lp’s portfolio.Proshare Advisors reduced its stake in SAAS by selling 788 shares or 4.16% in the most recent quarter. The Hedge Fund company now holds 18,175 shares of SAAS which is valued at $172,299.Rhumbline Advisers boosted its stake in SAAS in the latest quarter, The investment management firm added 2,900 additional shares and now holds a total of 62,463 shares of Incontact Inc which is valued at $592,149.

Incontact Inc closed down -0.14 points or -1.47% at $9.4 with 4,66,416 shares getting traded on Monday. Post opening the session at $9.6, the shares hit an intraday low of $9.15 and an intraday high of $9.65 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Incontact Inc reported $-0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $-0.10. The company had revenue of $61.50 million for the quarter, compared to analysts expectations of $58.79 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on Incontact Inc. Company shares were Downgraded by Lake Street on May 18, 2016 to ” Hold”, Firm has raised the Price Target to $ 14 from a previous price target of $13 .Shares were Reiterated by The Benchmark Company on May 18, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $16 .

inContact Inc. (inContact) is a provider of cloud contact center software solutions. The Company provides a range of cloud contact center call routing self-service and agent optimization solutions. The Company operates through two segments: Software and Network connectivity. inContact’s Software segment includes services related to the delivery of its cloud contact center software solutions. The Company’s Network connectivity segment provides voice and data long distance services. The Company offers its products and services to customers in five vertical markets: business process outsourcers (BPOs) retail and direct response healthcare providers utilities and state and local Government. The Company has facilities in the United States Europe the Philippines and Hong Kong. The Company’s registered trademarks in the United States and elsewhere include inContact inTouch ECHO inCloud Satisfaction as a Service and Personal Connection.

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