60,949 Shares in eGain Corporation $EGAN Bought by Nuveen LLC

Key Points

• Nuveen LLC bought 60,949 shares of eGain Corporation for approximately $296,000, representing a 0.22% ownership in the company by the end of the last quarter.
• eGain recently announced a share buyback program allowing the reacquisition of up to $20 million in outstanding shares, indicating confidence in the stock's undervaluation.
• Despite one analyst's downgrade to a "hold" rating, eGain maintains a consensus rating of "Buy" with an average price target of $10.00.

Nuveen LLC bought a new position in eGain Corporation (NASDAQ:EGAN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 60,949 shares of the technology company's stock, valued at approximately $296,000. Nuveen LLC owned approximately 0.22% of eGain at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in eGain by 6.1% in the 1st 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. Bank of America Corp DE increased its holdings in eGain by 8.9% in the 4th quarter. Bank of America Corp DE now owns 30,886 shares of the technology company's stock worth $192,000 after acquiring an additional 2,525 shares in the last quarter. Wells Fargo & Company MN increased its holdings in eGain by 36.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company's stock worth $51,000 after acquiring an additional 2,197 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in eGain by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 139,684 shares of the technology company's stock worth $677,000 after acquiring an additional 10,486 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in eGain by 263.0% in the 4th quarter. Mackenzie Financial Corp now owns 90,688 shares of the technology company's stock worth $565,000 after acquiring an additional 65,708 shares in the last quarter. 53.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of eGain from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $10.00.

eGain Stock Up 2.7%

EGAN traded up $0.21 during trading on Thursday, reaching $8.09. The company had a trading volume of 90,057 shares, compared to its average volume of 64,252. The stock has a market cap of $221.26 million, a P/E ratio of 7.03 and a beta of 0.30. The business has a 50 day simple moving average of $6.43 and a 200-day simple moving average of $5.66. eGain Corporation has a 52 week low of $4.34 and a 52 week high of $8.41.

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

eGain Company Profile

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.