Zacks Investment Research cut shares of NetSol Technologies Inc. (NASDAQ:NTWK) from a hold rating to a sell rating in a report released on Thursday morning.
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 upgraded 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 6.55 on Thursday. NetSol Technologies has a 12 month low of $5.36 and a 12 month high of $9.50. The firm’s 50-day moving average price is $6.25 and its 200-day moving average price is $6.26. The firm has a market capitalization of $69.99 million, a price-to-earnings ratio of 20.47 and a beta of 0.24.
NetSol Technologies (NASDAQ:NTWK) last posted its quarterly earnings data on Thursday, September 15th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $19.10 million for the quarter. NetSol Technologies had a return on equity of 4.56% and a net margin of 5.27%. On average, equities analysts anticipate that NetSol Technologies will post $0.20 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in NetSol Technologies during the second quarter worth $114,000. Royal Bank of Canada increased 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. Geode Capital Management LLC increased 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. Simmons Bank purchased a new stake in NetSol Technologies during the first quarter worth $688,000. Finally, Vanguard Group Inc. increased 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. Institutional investors own 15.01% of the company’s stock.
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.