The NASDAQ 100 Technology Sector index (INDEXNASDAQ:NDXT) has been on a tear lately, posting gains for four weeks in a row. Last week, the index was up 0.50 percent to close at 3,440.57 points on Friday.
Year-to-date, the index has posted gains of 19.94 percent–or 571.87 points. Since its inception date of March 3, 2006, the index has increased 239.95 percent. With last week’s percent agains, a number of technology stocks also had a strong week.
In particular, the top 5 weekly NASDAQ stocks on the Technology 100 Sector index were:
- NCI (NASDAQ:NCIT)
- Concurrent Computer (NASDAQ:CCUR)
- Perion Network (NASDAQ:PERI)
- Cyren (NASDAQ:CYRN)
- Guidance Software (NASDAQ:GUID)
Here’s a closer look at those companies.
For the second week in a row, NCI was the top gaining stock on the index. The company 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. While the company has not released any news since then, NCI’s share price was still on the rise last week, increasing 10.48 percent to close at $18.45 on Friday.
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 an even 10 percent to close at $6.38 on Friday. It was a busy week full of news for the company, which included the release of its fiscal 2017 third quarter financial results on May 15 and the announcement that Appear TV has integrated its ABR streaming solution with Concurrent’s Aquari visual asset storage. As such, it’s no surprise that Concurrent filled the number two position on the 5 top weekly NASDAQ tech stocks list.
Based in Israel, Perion Network provides engagement and monetization solutions for web and mobile-web digital businesses. More specifically, its search division called CodeFuel helps developers optimize search traffic and generate revenue, while its advertising platform, MakeMeReach, grasps marketing campaigns and demands generation from a variety of social media platforms.
On May 16, the company announced it had appointed Mike Glover as the general manager of the Perion’s search business unit, which may have helped push its stock price up: at the close on Friday, the company’s share price had increased 8.89 percent over the five-day period to $1.47.
Cyren develops and markets information security solutions with a purpose to project Web, e-mail and mobile transactions. Cyren describes itself as a Security-as-a-SErvice provider in cloud-based security technology solutions that fight against cyber threats, malware attacks, information leaks, and so on.
With the WannaCry ransomware attack on May 12, Cyren announced on May 15 that its internet security products “fully protect customers from all known variants of the WannaCry ransomware delivered over email or the web.” With that said, it’s no doubt for certain this news helped push Cyren’s share price up: over the five-day period, the company’s shares saw a 7.5 percent increase to close at $2.15 on Friday.
Closing out the list is Guidance Software, who provides investigation solutions for cybersecurity analytics, security incident response, e-discovery, data privacy and forensic analysis. The company has five parts to it: Product, Subscription, Professional services, Training, and Maintenance.
On May 17, Guidance Software announced the release of a new model of Tableau Forensic Imagers. As such, the company’s share price increased 6.75 percent over the five-day period to close at $6.48 on Friday.
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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.