inContact Inc. (SAAS) Upgraded to “Hold” by Zacks Investment Research
inContact Inc. (NASDAQ:SAAS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
SAAS has been the subject of several other reports. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of inContact in a research note on Sunday, May 22nd. Craig Hallum lowered inContact from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Thursday, May 19th. Lake Street Capital lowered inContact from a “buy” rating to a “hold” rating and increased their price objective for the stock from $13.00 to $14.00 in a research note on Wednesday, May 18th. Benchmark Co. dropped their price objective on inContact from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, May 18th. Finally, Summit Research lowered inContact from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.75.
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Shares of inContact (NASDAQ:SAAS) traded down 0.07% during midday trading on Tuesday, reaching $13.93. 229,896 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $13.86 and a 200-day moving average of $11.89. inContact has a 1-year low of $6.25 and a 1-year high of $13.99. The company’s market capitalization is $871.11 million.
inContact (NASDAQ:SAAS) last issued its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.15. The firm earned $63.80 million during the quarter, compared to analysts’ expectations of $62.43 million. inContact had a negative return on equity of 12.85% and a negative net margin of 7.86%. inContact’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned ($0.12) earnings per share. Equities analysts expect that inContact will post ($0.25) earnings per share for the current fiscal year.
Several hedge funds have made changes to their positions in the stock. Geode Capital Management LLC raised its stake 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 worth $3,766,000 after buying an additional 5,309 shares during the period. BlackRock Group LTD boosted its position in 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. BlackRock Institutional Trust Company N.A. boosted its position in inContact by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,453,575 shares of the company’s stock valued at $12,922,000 after buying an additional 10,263 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in inContact during the first quarter valued at about $101,000. Finally, AlphaOne Investment Services LLC boosted its position in inContact by 85.1% in the first quarter. AlphaOne Investment Services LLC now owns 28,750 shares of the company’s stock valued at $256,000 after buying an additional 13,220 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.
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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