SciQuest (SQI) is Downgraded by Raymond James to Mkt Perform

SciQuest (SQI) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jun 24, 2016.

On the company’s financial health, SciQuest reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.08. The company had revenue of $26.90 million for the quarter, compared to analysts expectations of $26.81 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

SciQuest opened for trading at $17.63 and hit $17.74 on the upside on Tuesday, eventually ending the session at $17.69, with a gain of 0.34% or 0.06 points. The heightened volatility saw the trading volume jump to 1,45,170 shares. Company has a market cap of $492 M.

In a different news, on Nov 10, 2015, Stephen J Wiehe (CEO) purchased 15,400 shares at $12.09 per share price. According to the SEC, on Jun 2, 2015, Jennifer G Kaelin (Chief Financial Officer) sold 2,400 shares at $15.16 per share price.

SciQuest Inc. provides cloud-based business automation solutions for spend management. The Company’s offers procurement solutions that automate the source-to-settle process; spend analysis solutions that cleanse and classify spend data to drive and measure cost savings; supplier management solutions that facilitate its customers’ interactions with their suppliers; contract lifecycle management solutions that automate the contract lifecycle from contract creation through maintenance and accounts payable solutions that automate the invoice processing and vendor payment processes. The Company’s SciQuest Supplier Network is Software-as-a-Service (SaaS) communications hub that enables transaction interactions between its customers and their suppliers through its procurement accounts payable and supplier management solutions. It is the single integration point between its customers and their suppliers that provides customers with supplier information including supplier catalogs.


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