ModSys International, CounterPath, NetSol Technologies and ARI Network Services also saw gains last week.
Last week was a challenging one for the tech sector, with most NASDAQ-listed stocks on the decline. However, some companies were able to avoid the week’s curse and achieve gains.
With that in mind, here’s a look at last week’s top-gaining NASDAQ-listed computer software and processing stocks. The top riser during the period was Concurrent Computer (NASDAQ:CCUR), and it was followed by ModSys International (NASDAQ:MDSY), CounterPath (NASDAQ:CPAH), NetSol Technologies (NASDAQ:NTWK) and ARI Network Services (NASDAQ:ARIS).
Concurrent Computer rose 3.52 percent last week, and is up 6.87 percent year-to-date. The company provides software, hardware and professional services for the content delivery market, developing applications based on Linux and storage technologies. Last week’s jump in share price came after Concurrent Computer released its most recent earnings results after hours on February 9.
ModSys International took second place last week with a rise of 3 percent. The company, formerly called BluePhoenix Solutions, develops and markets enterprise legacy migration solutions and provides tools and professional services to international markets.
On February 10, FDA News Alert reported that insider Columbia Pacific Advisors had purchased 1,825 shares of Modsys International. The shares were bought at an average price per share of $2.10 for a total trade value of $3,741.
With 2.74-percent growth last week, CounterPath was the third-biggest gainer. The company designs, develops and sells software and services that allow enterprises and telecommunications service providers to deliver unified communications services (including voice, video, messaging and collaboration functionality) over IP-based networks.
On Thursday, insider Covington Find II sold 200,000 shares of CounterPath at an average price of $3 per share. All told, this transaction was valued at $600,000.
NetSol Technologies, an information technology and enterprise software solutions provider, saw its share price rise 1.26 percent last week. Its primary source of revenue is the licensing, customization, enhancement and maintenance of its suite of financial applications. Financial Market News suggests that the company’s uptick in share price came on the back of better-than-expected quarterly earnings, released last week.
ARI Network Services
Ari Network Services saw a 1.03-percent bump last week, though it has lost 3.92 percent so far this month. The company specializes in software-as-a-service and data-as-a-service solutions that help equipment manufacturers, distributors and dealers in selected vertical markets.
The Vista Voice states that Zacks Investment Research upgraded the company from a “sell” rating to a “hold” rating in a report published on Tuesday.
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 $10 million and less than $100 million prior to the week’s gains are included. Companies within the computer software and processing sector are considered.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.