UBS Group AG Has $152,000 Position in NetSol Technologies Inc. (NTWK)
UBS Group AG cut its position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) by 34.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,774 shares of the software maker’s stock after selling 15,561 shares during the period. UBS Group AG’s holdings in NetSol Technologies were worth $152,000 at the end of the most recent reporting period.
Separately, Renaissance Technologies LLC increased its stake in NetSol Technologies by 10.3% in the fourth quarter. Renaissance Technologies LLC now owns 356,902 shares of the software maker’s stock worth $1,856,000 after buying an additional 33,382 shares during the period. Hedge funds and other institutional investors own 20.56% of the company’s stock.
NetSol Technologies Inc. (NASDAQ NTWK) traded up 1.12% during mid-day trading on Thursday, hitting $4.50. The company had a trading volume of 217 shares. The firm has a market cap of $49.94 million, a P/E ratio of 204.55 and a beta of 0.72. NetSol Technologies Inc. has a 52-week low of $3.80 and a 52-week high of $7.00. The stock’s 50 day moving average price is $4.16 and its 200 day moving average price is $4.62.
NetSol Technologies (NASDAQ:NTWK) last issued its quarterly earnings results on Monday, May 22nd. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $17.95 million during the quarter, compared to analyst estimates of $17.75 million. NetSol Technologies had a return on equity of 0.05% and a net margin of 0.05%. On average, equities research analysts predict that NetSol Technologies Inc. will post ($0.19) EPS for the current fiscal year.
NetSol Technologies declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 18th that permits the company to buyback 500,000 shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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Separately, ValuEngine upgraded NetSol Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 24th.
About NetSol Technologies
NetSol Technologies, Inc is a provider of information technology (IT) and enterprise software solutions. The Company is engaged in the licensing, customization, enhancement and maintenance of its suite of financial applications under the brand names, NetSol Financial Suite (NFS) and NFS Ascent, for businesses in the lease and finance industry.
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