Williams & Novak LLC Sells 3,870 Shares of eGain Corporation $EGAN

Williams & Novak LLC lessened its holdings in shares of eGain Corporation (NASDAQ:EGAN) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,520 shares of the technology company’s stock after selling 3,870 shares during the quarter. Williams & Novak LLC owned 0.08% of eGain worth $141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in eGain during the 1st quarter valued at $83,000. Bank of America Corp DE increased its stake 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 worth $207,000 after acquiring an additional 2,446 shares during the last quarter. Jane Street Group LLC boosted its holdings in eGain by 53.7% during the 1st 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 during the last quarter. Finally, Strs Ohio purchased a new position in eGain during the 1st quarter worth $250,000. Institutional investors own 53.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on EGAN shares. Wall Street Zen raised shares of eGain from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of eGain in a report on Saturday, September 27th. Finally, Zacks Research raised shares of eGain from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One investment 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. According to data from MarketBeat.com, eGain currently has a consensus rating of “Buy” and a consensus target price of $10.00.

eGain Stock Performance

EGAN opened at $12.79 on Friday. The firm has a market cap of $343.67 million, a P/E ratio of 11.12 and a beta of 0.40. The firm has a 50-day moving average of $7.81 and a 200 day moving average of $6.37. eGain Corporation has a fifty-two week low of $4.34 and a fifty-two week high of $13.41.

eGain declared that its board has authorized a stock buyback plan on Thursday, September 4th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Eric Smit sold 15,000 shares of the 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 completion of the transaction, the chief financial officer owned 129,187 shares in the company, valued at approximately $1,291,870. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 37.70% of the company’s stock.

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.