NetSol Technologies Inc. (NTWK) Downgraded to “Sell” at Zacks Investment Research
NetSol Technologies Inc. (NASDAQ:NTWK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
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 report on Thursday, September 29th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/netsol-technologies-inc-ntwk-downgraded-to-sell-at-zacks-investment-research.html
Shares of NetSol Technologies (NASDAQ:NTWK) opened at 6.589 on Thursday. NetSol Technologies has a one year low of $5.36 and a one year high of $9.50. The firm has a market cap of $70.41 million, a P/E ratio of 20.591 and a beta of 0.24. The firm has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.27.
NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings results on Thursday, September 15th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $19.10 million for the quarter. On average, analysts forecast that NetSol Technologies will post $0.20 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of NTWK. 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 valued at $214,000 after buying an additional 11,157 shares in the last quarter. Simmons Bank purchased a new stake in NetSol Technologies during the first quarter valued at about $688,000. 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 valued at $366,000 after buying an additional 2,967 shares in the last quarter. Raymond James & Associates purchased a new stake in NetSol Technologies during the second quarter valued at about $114,000. 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 valued at $2,138,000 after buying an additional 83,801 shares in the last quarter. Hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NetSol Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetSol Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.