Charles Schwab Investment Management Inc. Cuts Stock Position in eGain Corporation $EGAN

Charles Schwab Investment Management Inc. decreased its holdings in shares of eGain Corporation (NASDAQ:EGAN - Free Report) by 26.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,893 shares of the technology company's stock after selling 61,998 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of eGain worth $853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN raised its position in eGain by 36.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,173 shares of the technology company's stock valued at $51,000 after purchasing an additional 2,197 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in eGain during the 4th quarter valued at approximately $71,000. Jefferies Financial Group Inc. bought a new position in eGain during the 1st quarter valued at approximately $83,000. Bank of America Corp DE raised its position in eGain by 8.9% during the 4th quarter. Bank of America Corp DE now owns 30,886 shares of the technology company's stock valued at $192,000 after purchasing an additional 2,525 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in eGain by 6.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 42,630 shares of the technology company's stock valued at $207,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors own 53.94% of the company's stock.

eGain Stock Up 5.3%

Shares of NASDAQ:EGAN traded up $0.33 during trading on Friday, hitting $6.50. The stock had a trading volume of 134,193 shares, compared to its average volume of 35,651. eGain Corporation has a 12 month low of $4.34 and a 12 month high of $7.33. The company has a market capitalization of $177.78 million, a PE ratio of 5.65 and a beta of 0.30. The firm's fifty day moving average is $6.32 and its 200 day moving average is $5.59.

eGain announced that its board has authorized a stock repurchase program on Thursday, September 4th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

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

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.