inContact Inc. (SAAS) Stock Rating Upgraded by Zacks Investment Research

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inContact Inc. (NASDAQ:SAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “inContact, Inc. operates as a hosted, software as a service company offering a range of hosted contact handling and performance management software services, in addition to a variety of connectivity options for carrying an inbound call into its inContact suite of services.The Company sells telecom services unbundled from its inContact service offering, including dedicated, switched, toll free and data lines.The company also operates as a reseller of domestic and international long distance and other services provided by national and regional wholesale providers.It was formerly known as UCN, Inc. and is based in Midvale, Utah. “
inContact (NASDAQ:SAAS) remained flat at $13.94 on Wednesday. The company’s stock had a trading volume of 293,103 shares. inContact has a 1-year low of $6.25 and a 1-year high of $13.99. The firm’s 50-day moving average price is $13.88 and its 200 day moving average price is $12.19. The firm’s market capitalization is $871.74 million.

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inContact (NASDAQ:SAAS) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.15. inContact had a negative net margin of 7.86% and a negative return on equity of 12.85%. The business earned $63.80 million during the quarter, compared to the consensus estimate of $62.43 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts expect that inContact will post ($0.25) earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD increased its position in shares of inContact by 63.5% in the first quarter. BlackRock Group LTD now owns 20,847 shares of the company’s stock valued at $185,000 after buying an additional 8,097 shares in the last quarter. State Street Corp increased its position in shares of inContact by 3.2% in the first quarter. State Street Corp now owns 1,022,894 shares of the company’s stock valued at $9,095,000 after buying an additional 31,716 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of inContact by 22.3% in the first quarter. UBS Asset Management Americas Inc. now owns 800,702 shares of the company’s stock valued at $7,118,000 after buying an additional 145,883 shares during the period. Goldman Sachs Group Inc. increased its position in shares of inContact by 995.8% in the first quarter. Goldman Sachs Group Inc. now owns 312,328 shares of the company’s stock valued at $2,777,000 after buying an additional 283,826 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of inContact by 1.3% in the first quarter. Geode Capital Management LLC now owns 423,672 shares of the company’s stock valued at $3,766,000 after buying an additional 5,309 shares during the period. Institutional investors and hedge funds own 94.43% of the company’s stock.
About inContact
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 business segments: Software and Network connectivity. inContact’s Software segment includes the services related to the delivery of its cloud contact center software solutions.

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