NetSol Technologies Inc. (NTWK) Rating Lowered to Sell at Zacks Investment Research
According to Zacks, “NetSol Technologies is a multinational provider of enterprise software and IT services to the financial services industry. NetSol helps clients to identify, evaluate and implement technology solutions to meet their strategic business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective equipment and vehicle finance portfolio management solutions. The Company also delivers managed IT services ranging from consulting and application development to systems integration and development outsourcing. NetSol’s commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMMi (Capability Maturity Model) Level 5 assessment, a distinction shared by only 94 companies worldwide. The Company’s clients include global automakers, financial institutions, technology companies and governmental agencies. “
Separately, TheStreet raised NetSol Technologies from a hold rating to a buy rating in a research report on Thursday, September 29th.
Shares of NetSol Technologies (NASDAQ:NTWK) opened at 6.50 on Thursday. The company has a 50-day moving average price of $6.26 and a 200 day moving average price of $6.25. NetSol Technologies has a 52 week low of $5.36 and a 52 week high of $9.50. The firm has a market cap of $69.46 million, a price-to-earnings ratio of 20.31 and a beta of 0.24.
NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Thursday, September 15th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. NetSol Technologies had a return on equity of 4.56% and a net margin of 5.27%. The firm earned $19.10 million during the quarter. Analysts expect that NetSol Technologies will post $0.20 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Simmons Bank acquired a new stake in NetSol Technologies during the first quarter worth about $688,000. Vanguard Group Inc. boosted its stake in NetSol Technologies by 29.7% in the second quarter. Vanguard Group Inc. now owns 366,118 shares of the company’s stock worth $2,138,000 after buying an additional 83,801 shares during the last quarter. Raymond James & Associates acquired a new stake in NetSol Technologies during the second quarter worth about $114,000. Royal Bank of Canada boosted its stake in NetSol Technologies by 57.2% in the first quarter. Royal Bank of Canada now owns 30,657 shares of the company’s stock worth $214,000 after buying an additional 11,157 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in NetSol Technologies by 6.0% in the first quarter. Geode Capital Management LLC now owns 52,458 shares of the company’s stock worth $366,000 after buying an additional 2,967 shares during the last quarter. 15.01% of the stock is owned by institutional investors.
About NetSol Technologies
NetSol Technologies, Inc is a provider of information technology (IT) and enterprise software solutions. The Company’s primary source of revenue is the licensing, customization, enhancement and maintenance of its suite of financial applications under the brand name NetSol Financial Suite (NFS) and NFS Ascent for businesses in the global lease and finance industry.
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