Russell Investments Group Ltd. lessened its stake in eGain Corp (NASDAQ:EGAN) by 82.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,121 shares of the technology company’s stock after selling 37,703 shares during the period. Russell Investments Group Ltd.’s holdings in eGain were worth $64,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in eGain by 8,721.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,705 shares of the technology company’s stock worth $39,000 after purchasing an additional 3,663 shares in the last quarter. Bank of America Corp DE raised its position in eGain by 44.3% in the fourth quarter. Bank of America Corp DE now owns 21,589 shares of the technology company’s stock worth $142,000 after purchasing an additional 6,628 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in eGain in the first quarter worth about $114,000. Prudential Financial Inc. raised its position in eGain by 150.5% in the second quarter. Prudential Financial Inc. now owns 28,014 shares of the technology company’s stock worth $228,000 after purchasing an additional 16,830 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in eGain in the second quarter worth about $146,000. Institutional investors and hedge funds own 78.88% of the company’s stock.
Shares of NASDAQ EGAN traded up $0.18 during mid-day trading on Monday, hitting $8.09. 3,641 shares of the stock were exchanged, compared to its average volume of 200,081. The company has a market cap of $244.24 million, a P/E ratio of 50.09, a PEG ratio of 13.63 and a beta of 0.67. The stock’s fifty day simple moving average is $7.48 and its two-hundred day simple moving average is $8.63. eGain Corp has a twelve month low of $5.40 and a twelve month high of $12.74.
eGain (NASDAQ:EGAN) last posted its quarterly earnings data on Tuesday, September 3rd. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The firm had revenue of $16.82 million for the quarter, compared to analyst estimates of $16.46 million. eGain had a return on equity of 45.23% and a net margin of 6.20%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Analysts forecast that eGain Corp will post 0.02 EPS for the current year.
Several research analysts recently issued reports on EGAN shares. Roth Capital set a $15.00 price target on shares of eGain and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research raised shares of eGain from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. BidaskClub raised shares of eGain from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC set a $15.00 price objective on shares of eGain and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Craig Hallum set a $8.00 price objective on shares of eGain and gave the stock a “hold” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. eGain currently has an average rating of “Buy” and a consensus target price of $11.75.
In other news, CFO Eric Smit sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $8.00, for a total transaction of $32,000.00. Following the completion of the sale, the chief financial officer now owns 137,187 shares of the company’s stock, valued at $1,097,496. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 6,000 shares of company stock valued at $47,080. Company insiders own 38.60% of the company’s stock.
eGain Company Profile
eGain Corporation operates as a software-as-a service provider of customer engagement solutions in the United States, the United Kingdom, India, and internationally. It provides eGain solution, a unified cloud software solution to automate, augment, and orchestrate customer engagement, including digital-first, Omni channel desktop, artificial intelligence (AI) and knowledge, and analytics and machine learning applications, as well as platform APIs and pre-built third-party connectors.
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