Mackenzie Financial Corp Has $107,000 Stock Position in eGain Corporation (NASDAQ:EGAN)

Key Points

• Mackenzie Financial Corp has drastically reduced its stake in eGain Corporation by 75.8%, now owning approximately 0.08% of the company, worth $107,000.
• Several institutional investors have increased their holdings in eGain, with JPMorgan Chase & Co. notably raising its stake by 382.4% recently.
• eGain reported earnings of $0.03 per share for the latest quarter, exceeding estimates, but with a revenue of $21.01 million, slightly below analyst forecasts of $21.24 million.

Mackenzie Financial Corp reduced its position in eGain Corporation (NASDAQ:EGAN - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,984 shares of the technology company's stock after selling 68,704 shares during the period. Mackenzie Financial Corp owned about 0.08% of eGain worth $107,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in eGain by 382.4% during the fourth quarter. JPMorgan Chase & Co. now owns 74,688 shares of the technology company's stock valued at $465,000 after purchasing an additional 59,207 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in eGain by 37.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,009 shares of the technology company's stock valued at $168,000 after purchasing an additional 7,373 shares in the last quarter. Wells Fargo & Company MN grew its position in eGain by 36.8% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP grew its position in eGain by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 690,317 shares of the technology company's stock valued at $4,300,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Bank of America Corp DE grew its position in eGain by 8.9% during the fourth 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 in the last quarter. 53.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of eGain from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

eGain Stock Down 4.5%

Shares of EGAN traded down $0.28 during mid-day trading on Thursday, hitting $5.90. 13,865 shares of the company's stock were exchanged, compared to its average volume of 63,179. The firm has a fifty day moving average of $6.30 and a two-hundred day moving average of $5.57. eGain Corporation has a twelve month low of $4.34 and a twelve month high of $7.62. The stock has a market cap of $161.39 million, a price-to-earnings ratio of 65.94 and a beta of 0.45.

eGain (NASDAQ:EGAN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. eGain had a net margin of 3.30% and a return on equity of 5.24%. The company had revenue of $21.01 million for the quarter, compared to analyst estimates of $21.24 million. On average, equities analysts predict that eGain Corporation will post 0.05 earnings per share for the current year.

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.