eGain (NASDAQ:EGAN) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• eGain's stock has been given a "hold (C+)" rating by Weiss Ratings, while Zacks Research upgraded it from "hold" to a "strong-buy" on October 6th.
• The company's stock price decreased by 2.5% during mid-day trading, reaching $13.65, despite a high of $14.18 in the past year.
• eGain's Board of Directors approved a $20 million share repurchase plan, indicating confidence in the company's stock valuation.

eGain (NASDAQ:EGAN - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other analysts also recently weighed in on EGAN. Zacks Research raised shares of eGain from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Wall Street Zen raised shares of eGain from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $10.00.

eGain Stock Down 2.5%

Shares of EGAN traded down $0.35 during mid-day trading on Tuesday, reaching $13.65. 278,329 shares of the stock traded hands, compared to its average volume of 98,680. The firm has a market cap of $366.69 million, a price-to-earnings ratio of 11.87 and a beta of 0.40. The stock has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $6.46. eGain has a 12-month low of $4.34 and a 12-month high of $14.18.

eGain announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 4th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at eGain

In related news, CFO Eric Smit sold 15,000 shares of eGain stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the sale, the chief financial officer directly owned 129,187 shares in the company, valued at $1,291,870. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On eGain

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in eGain in the first quarter worth about $83,000. Ritholtz Wealth Management bought a new stake in eGain in the second quarter worth about $194,000. Assenagon Asset Management S.A. raised its position in eGain by 6.1% in the first quarter. Assenagon Asset Management S.A. now owns 42,630 shares of the technology company's stock worth $207,000 after acquiring an additional 2,446 shares in the last quarter. Jane Street Group LLC raised its position in eGain by 53.7% in the first quarter. Jane Street Group LLC now owns 47,726 shares of the technology company's stock worth $231,000 after acquiring an additional 16,678 shares in the last quarter. Finally, Strs Ohio bought a new stake in eGain in the first quarter worth about $250,000. 53.94% of the stock is currently owned by institutional investors.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.

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