Zacks Investment Research Downgrades NetSol Technologies (NASDAQ:NTWK) to Sell

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NetSol Technologies (NASDAQ:NTWK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

A number of other brokerages have also recently commented on NTWK. TheStreet cut shares of NetSol Technologies from a “b-” rating to a “c+” rating in a report on Monday, May 20th. ValuEngine cut shares of NetSol Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th.

Shares of NTWK stock opened at $5.20 on Tuesday. NetSol Technologies has a 12 month low of $4.95 and a 12 month high of $10.52. The stock has a market cap of $61.58 million, a P/E ratio of 13.68, a P/E/G ratio of 0.53 and a beta of 0.60. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $5.57 and a two-hundred day simple moving average of $6.29.

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in NetSol Technologies by 10.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,325 shares of the software maker’s stock valued at $170,000 after buying an additional 2,800 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in NetSol Technologies by 37.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 46,574 shares of the software maker’s stock valued at $303,000 after buying an additional 12,638 shares during the last quarter. Marshall Wace LLP increased its holdings in NetSol Technologies by 692.5% during the first quarter. Marshall Wace LLP now owns 50,340 shares of the software maker’s stock valued at $328,000 after buying an additional 43,988 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in NetSol Technologies by 39.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 64,310 shares of the software maker’s stock valued at $359,000 after buying an additional 18,240 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in NetSol Technologies by 4.6% during the second quarter. Acadian Asset Management LLC now owns 94,208 shares of the software maker’s stock valued at $527,000 after buying an additional 4,125 shares during the last quarter. 30.39% of the stock is owned by institutional investors and hedge funds.

NetSol Technologies Company Profile

NetSol Technologies, Inc designs, develops, markets, and exports software products to the automobile financing and leasing, banking, and financial services industries worldwide. It also provides system integration, consulting, and IT products and services. The company offers NetSol Financial Suite (NFS), an end-to-end solution covering leasing and finance cycle for the asset finance industry; and NFS Ascent platform, a lease accounting and contract processing engine.

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