Harvest Capital Strategies buys $37,894,635 stake in Servicesource International Inc (SREV)

Servicesource International Inc (SREV) : Harvest Capital Strategies scooped up 2,348,732 additional shares in Servicesource International Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 7,548,732 shares of Servicesource International Inc which is valued at $37,894,635.Servicesource International Inc makes up approximately 6.24% of Harvest Capital Strategies’s portfolio.

Other Hedge Funds, Including , Granite Investment Partners boosted its stake in SREV in the latest quarter, The investment management firm added 243,363 additional shares and now holds a total of 730,806 shares of Servicesource International Inc which is valued at $3,668,646. Servicesource International Inc makes up approx 0.28% of Granite Investment Partners’s portfolio.Kennedy Capital Management reduced its stake in SREV by selling 195,101 shares or 20.53% in the most recent quarter. The Hedge Fund company now holds 755,420 shares of SREV which is valued at $3,792,208. Servicesource International Inc makes up approx 0.07% of Kennedy Capital Management’s portfolio.Blackrock Investment Management boosted its stake in SREV in the latest quarter, The investment management firm added 27,052 additional shares and now holds a total of 247,348 shares of Servicesource International Inc which is valued at $1,241,687.Ubs Asset Management Americas Inc reduced its stake in SREV by selling 129,633 shares or 3.96% in the most recent quarter. The Hedge Fund company now holds 3,143,579 shares of SREV which is valued at $16,063,689. Servicesource International Inc makes up approx 0.02% of Ubs Asset Management Americas Inc’s portfolio.

Servicesource International Inc opened for trading at $5.04 and hit $5.09 on the upside on Thursday, eventually ending the session at $5.09, with a gain of 0.59% or 0.03 points. The heightened volatility saw the trading volume jump to 1,15,212 shares. Company has a market cap of $437 M.

On the company’s financial health, Servicesource International Inc reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.01. The company had revenue of $62.00 million for the quarter, compared to analysts expectations of $60.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.02 EPS.

ServiceSource International Inc. (ServiceSource) is a recurring revenue growth solutions provider. The Company addresses elements of customer success recurring revenue growth and renewal processes which include on-boarding adoption quoting up-sell cross sell retention and renewals as well as recurring revenue business intelligence for the Revenue Lifecycle. The Company provides managed services and cloud software processes. By integrating managed services cloud software and data the Company provides end-to-end management and optimization of the subscription and service-contract renewal process. The Company’s cloud offerings include: ServiceSource Revenue Analytics Renew OnDemand and the ServiceSource Customer Success application which automate and provide data-driven insights into these manual business processes. The Company operates in two segments: Managed Services and Cloud and Business Intelligence.

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