Zacks Investment Research lowered shares of NetSol Technologies Inc. (NASDAQ:NTWK) from a hold rating to a sell rating in a report released 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 shares of NetSol Technologies from a hold rating to a buy rating in a report on Thursday, September 29th.

NetSol Technologies (NASDAQ:NTWK) traded up 0.46% during trading on Thursday, reaching $6.58. 182 shares of the company’s stock traded hands. The stock has a market capitalization of $70.31 million, a P/E ratio of 20.56 and a beta of 0.24. NetSol Technologies has a 1-year low of $5.36 and a 1-year high of $9.50. The stock has a 50-day moving average price of $6.22 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.08. The company had revenue of $19.10 million for the quarter. NetSol Technologies had a net margin of 5.27% and a return on equity of 4.56%. Equities research analysts expect 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 valued at about $114,000. 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 during the period. 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 during the period. Simmons Bank purchased a new stake in NetSol Technologies during the first quarter valued at about $688,000. Finally, 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 during the last quarter. 15.01% of the stock is currently owned by hedge funds and other 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.

5 Day Chart for NASDAQ:NTWK

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