5 Top Weekly NASDAQ Tech Stocks: Index Gains 1.3 Percent

NCI, Concurrent Computer, Marchex, Evolving Systems and Avid Technology were the top gainers on the NASDAQ 100 Technology Sector Index last week.

fintech venture capital

The NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) has been on a tear lately, posting gains for three weeks in a row–including last week. Over the five day period, the index rose 1.3 percent to close at 3,423.53 points on Friday.

Year-to-date, the index has posted gains of 19.34 percent–or 554.83 points–while since its inception date of March 3, 2006, it has gained 238.27 percent. With last week’s percent agains, a number of technology stocks also had a strong week.

In particular, the 5 top weekly NASDAQ stocks on the Technology 100 Sector index were:

  • NCI (NASDAQ:NCIT)
  • Concurrent Computer (NASDAQ:CCUR)
  • Marchex (NASDAQ:MCHX)
  • Evolving Systems (NASDAQ:EVOL)
  • Avid Technology (NASDAQ:AVID)

Here’s a closer look at those companies.

NCI

NCI is a provider of enterprise solutions to industries such as US defense, intelligence, health and civilian government agencies. In particular, NCI’s services include cybersecurity, Passive Optical Network technology, network integration, big data and mobility.

On May 9, NCI released its first quarter 2017 financial and operating results, highlighting revenue of $79 million during the quarter. As such, it’s no surprise that NCI’s share price was on the move last week: over the five-day period, its stock increased 14.78 percent to close at $16.70 on Friday.

Concurrent Computer

Next on the 5 top weekly NASDAQ stocks is Concurrent Computer, a software and solutions company that develops solutions based on its Linux and storage. More specifically, the company’s delivery solutions are comprised of software and hardware services for video streaming content to different devices.

Last week, shares of the company increased 12.84 percent to close at $5.80 on Friday. On May 8, Concurrent Computer stated it will releasing its third quarter financial results on May 15, which may have been the reason behind its share price increase.

 Marchex

Middle of the pack is Marchex, who is a mobile advertising analytics company that works with companies and organizations in education, auto, retail, health, insurance, home services, real estate, storage, travel and cable/satellite. Of note, some of Marchex’s clients include Time Warner Cable, ADT, Bank of America, CDK Global, T-Mobile, WPP, and Bridgestone.

While Marchex did not have any news during the trading week, on May 4 the company released its first quarter 2017 results, highlighting revenue of $24.4 million for the quarter, compared to $36 million for the same quarter the previous year.

Still, the company’s share price increased 7.22 percent over the five-day period, closing at $2.97 on Friday.

Evolving Systems

Ever since 1985, Evolving Systems has been developing a variety of software solutions, which include: Real-time Lifecycle Marketing, Dynamic SIM Allocation, Tertio Service Activation, and Total Number Management.

Much like Marchex, Evolving Systems didn’t have any related news during last week’s trading period relating to its share price increase. Over the five-day week, Evolving Systems’ stocks rose 7.07 percent to close at $5.35.

Avid Technology

Closing out the list is Avid Technology,  who develops, markets and sells software and hardware for digital media content production, management, secured content storage and distribution. Avid Technology’s products are used in the film and television, and other media-related industries such as recording studios and live-sound performance venues.

On May 10, the company announced its first quarter 2017 results, citing revenue of $104.1 million, which is down $39.4 million year-on-year and $11.2 million sequentially.  As a result, it’s no surprise that Avid’s share price increased slightly last week, rising 5.92 percent to $5.55.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.


** This article is updated each week. Please scroll to the top for the most recent information**

5 Top Weekly NASDAQ Tech Stocks: Index Rises for Second Week in a Row

By Jocelyn Aspa

For the second week in a row, the NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) posted gains over the five-day trading period, rising 1 percent to close the trading period at 3,379.48 points.

In the 11 years since the index went public, it has gained 233.92 percent since March 3, 2006, according to data from Google Finance, with last week pushing the index to its highest level. As such, a number of technology stocks benefited from the index’s solid week.

In particular, the 5 top weekly NASDAQ stocks on the 100 Technology Sector index were:

  • Internap (NASDAQ:INAP)
  • Rocket Fuel (NASDAQ:FUEL)
  • LivePerson (NASDAQ:LPSN)
  • Simulations Plus (NASDAQ:SLP)
  • Concurrent Computer (NASDAQ:CCUR)

Here’s a closer look at those companies.

Internap

Last week’s top gaining stock was Internap, a company that provides Internet infrastructure via Colocation Businesses, enterprise and cloud services. More specifically, the company operates through Data Center and Network Services, and Cloud and Hosting Services.

Over the five-day period, shares of Internap rose 9.03 percent to close at $3.38 on Friday. That said, there was no related news related to its share price increase, although in early April the company did sign a multi-year agreement with a data network and telecommunications company for customized colocation and network services at Internap’s Dallas facility.

Rocket Fuel

Founded in 2008, Rocket Fuel is in the digital advertising industry with a focus on big data and artificial intelligence. The company’s platforms include Data Management Platform and Demand Side Platform.

The company did not have any related news during the trading week: Rocket Fuel’s most recent news came April 6, when it announced study findings where in certain situations, up to 70 percent of in-stream video ad inventory is misrepresented in-banner.  That said, Insider Financial wrote on May 2, that the company is on a “bull run”and is “delivering extraordinary returns” so far this year.

As such, perhaps that’s the reason its share price increased: last week, Rocket Fuel’s stock price climbed 8.66 percent to close the week at $5.46.

LivePerson

Putting it simply, LivePerson provides mobile and online business messaging services between brands and consumers. Its cloud-based platform, LiveEngage, enables agents of big-named brands to “deliver digital at scale.”

On that note, last week’s trading week was busy for the company: on May 2, LivePerson announced it had launched LiveEngage, the first bot management platform, while on May 3 the company announced that Royal Bank of Scotland will be enhancing its customer service with LivePerson’s “hybrid bots” system.

Last week, shares of LivePerson rose 7.8 percent to close the trading period at $7.60.

Simulations Plus

Simulations Plus develops software for pharmaceutical research and education, and also the chemicals, cosmetics and food industries. What’s more, the company provides consulting and contract research for the pharmaceutical sector. In particular, some of the the company’s software include: GastroPlus, ADMET Predictor, PKPlus, DDDPlus, and MembranePlus.

On May 1, the company announced it entered into a stock purchase agreement with DILIsym Services wherein DILIsym will become a wholly owned subsidiary of Simulations Plus. As such, the news no doubt helped the company’s share price increase: over the five-day period, shares of Simulations increased 6.41 percent to close at $12.45 on Friday.

Concurrent Computer

Rounding out the five top weekly NASDAQ tech stocks is Concurrent Computer, a company that provides real time solutions through Linux and storage technologies.

On May 2, the company announced that Blue Ridge Communications had started using solutions based off Concurrent’s storage, video processing and caching products. As a result, the company’s share price increased over the trading period, rising 3.84 percent to close the week at $5.14.

Don’t forget to follow us @INN_Technology for real-time news updates.

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $50 million and less than $500 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Get the Latest Data Investing Stock Information

Get the latest information about companies associated with Data Investing delivered directly to your inbox.

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply