Raymond James Downgrades SciQuest to Market Perform with Price Target $

Brokerage firm Raymond James Downgrades its rating on SciQuest(NASDAQ:SQI). In a research note issued to the investors, the brokerage major Removes the price-target to $ per share. The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Jun 24, 2016.

In a different note, On May 31, 2016, William Blair said it Downgrades its rating on SciQuest. The shares have been rated ‘Market Perform’ by the firm.

SciQuest (SQI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.06% or 0.01 points. Due to strong positive momentum, the stock ended at $17.64, which is also near the day’s high of $17.66. The stock began the session at $17.65 and the volume stood at 3,87,862 shares. The 52-week high of the shares is $17.81 and the 52 week low is $9.49. The company has a current market capitalization of $491 M and it has 2,78,08,603 shares in outstanding.

SciQuest(SQI) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $26.89M. Analysts had an estimated revenue of $26.83M. Earnings per share were $0.09. Analysts had estimated an EPS of $0.08.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2015, Stephen J Wiehe (CEO) purchased 15,400 shares at $12.09 per share price.Also, On Jun 2, 2015, Jennifer G Kaelin (Chief Financial Officer) sold 2,400 shares at $15.16 per share price.

SciQuest Inc. provides cloud-based business automation solutions for spend management. The Company’s offers procurement solutions that automate the source-to-settle process; spend analysis solutions that cleanse and classify spend data to drive and measure cost savings; supplier management solutions that facilitate its customers’ interactions with their suppliers; contract lifecycle management solutions that automate the contract lifecycle from contract creation through maintenance and accounts payable solutions that automate the invoice processing and vendor payment processes. The Company’s SciQuest Supplier Network is Software-as-a-Service (SaaS) communications hub that enables transaction interactions between its customers and their suppliers through its procurement accounts payable and supplier management solutions. It is the single integration point between its customers and their suppliers that provides customers with supplier information including supplier catalogs.

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