Portolan Capital Management Lowers stake in Incontact Inc (SAAS)

Incontact Inc (SAAS) : Portolan Capital Management reduced its stake in Incontact Inc by 21.99% during the most recent quarter end. The investment management company now holds a total of 3,343,585 shares of Incontact Inc which is valued at $31.9 Million after selling 942,467 shares in Incontact Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Incontact Inc makes up approximately 4.38% of Portolan Capital Management’s portfolio.

Other Hedge Funds, Including , Marathon Capital Management reduced its stake in SAAS by selling 3,250 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 258,900 shares of SAAS which is valued at $2.5 Million. Incontact Inc makes up approx 1.26% of Marathon Capital Management’s portfolio.Stephens Investment Management Group boosted its stake in SAAS in the latest quarter, The investment management firm added 59,950 additional shares and now holds a total of 1,304,902 shares of Incontact Inc which is valued at $12.4 Million. Incontact Inc makes up approx 0.43% of Stephens Investment Management Group’s portfolio.Pier Capital reduced its stake in SAAS by selling 21,219 shares or 6.69% in the most recent quarter. The Hedge Fund company now holds 296,043 shares of SAAS which is valued at $2.8 Million. Incontact Inc makes up approx 0.55% of Pier Capital’s portfolio.Russell Frank Co boosted its stake in SAAS in the latest quarter, The investment management firm added 285,529 additional shares and now holds a total of 1,050,678 shares of Incontact Inc which is valued at $9.8 Million. Incontact Inc makes up approx 0.02% of Russell Frank Co’s portfolio. Aperio Group added SAAS to its portfolio by purchasing 15,055 company shares during the most recent quarter which is valued at $140,162.

Incontact Inc opened for trading at $13.87 and hit $13.9 on the upside on Wednesday, eventually ending the session at $13.89, with a gain of 0.14% or 0.02 points. The heightened volatility saw the trading volume jump to 20,15,314 shares. Company has a market cap of $864 M.

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. Incontact Inc was Downgraded by Craig Hallum to ” Hold” on May 19, 2016. 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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