NetSol Technologies (NASDAQ:NTWK) CEO Najeeb Ghauri purchased 2,500 shares of the business’s stock in a transaction on Friday, May 25th. The shares were acquired at an average cost of $6.20 per share, with a total value of $15,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
NetSol Technologies traded up $0.15, hitting $6.25, during mid-day trading on Friday, Marketbeat.com reports. 740 shares of the company’s stock traded hands, compared to its average volume of 60,152. NetSol Technologies has a fifty-two week low of $3.09 and a fifty-two week high of $6.10.
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NetSol Technologies (NASDAQ:NTWK) last announced its quarterly earnings results on Monday, May 14th. The software maker reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.19. NetSol Technologies had a return on equity of 0.01% and a net margin of 0.01%. The business had revenue of $17.04 million during the quarter.
NetSol Technologies announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 27th that allows the company to buyback 500,000 shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A hedge fund recently raised its stake in NetSol Technologies stock. Raymond James & Associates raised its holdings in shares of NetSol Technologies (NASDAQ:NTWK) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,369 shares of the software maker’s stock after purchasing an additional 19,202 shares during the quarter. Raymond James & Associates owned approximately 0.94% of NetSol Technologies worth $501,000 at the end of the most recent reporting period. 19.05% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine raised NetSol Technologies from a “hold” rating to a “buy” rating in a report on Thursday, May 17th.
About NetSol Technologies
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.