5 Top NASDAQ Tech Stocks: Sify Technologies Rises 21.23 Percent

Sify Technologies (NASDAQ:SIFY) was the top-gaining tech stock on NASDAQ last week, enjoying a share price increase of 21.23 percent.
Meanwhile, Cinedigm (NASDAQ:CIDM), CounterPath (NASDAQ:CPAH), RMG Networks Holding (NASDAQ:RMGN) and Evolving Systems (NASDAQ:EVOL) also saw major gains. Here’s a look at what moved their share prices last week.

Sify Technologies

Sify Technologies’ 21.23-percent growth last week is in keeping with a broader upward trend for the company. This month alone, the company has seen a 19.04-percent rise in share price, while year-to-date it’s seen a 26.89-percent increase.
The India-based company is an integrated information and communications technology solutions and services company. It operates through five segments: telecom services, data center services, cloud and managed services, technology integration services and application integration services.

Cinedigm

Cinedigm is a distributor and aggregator of independent movies, television and other short-form content. It operates in four segments: first digital cinema deployment, second digital cinema deployment, digital cinema services and media content and entertainment. Last week, it saw a 19.17-increase in share price, in keeping with its monthly gain of 19.15 percent. Since the start of the year, Cinedigm’s share price has risen by 7.24 percent.
The company’s most important recent news came in February, when it announced that the NASDAQ Listing Qualifications Panel has granted the its request for continued listing. Furthermore, NASDAQ accepted the company’s plan to regain compliance with the continued listing standards of the NASDAQ Global Market. That is contingent on Cinedigm evidencing compliance with the minimum $1 bid price requirement by June 7, 2016. 

CounterPath

CounterPath designs, develops and sells software and services that allow enterprises to deliver unified communications services (including voice, video, messaging and collaboration functionality) over IP-based networks.
Last week, the company saw a 17.46-percent increase in share price, helping to offset a downward turn seen over the past couple of months. Since the beginning of the year, the company’s share price has fallen by a significant 14.29 percent. Its recent change in fortune may be attributable to its Q3 2016 earnings release on March 15.

RMG Networks Holding

RMG Networks Holding is a technology-driven visual communications company that’s headquartered in Texas. The company provides digital signage media hardware, software and services to nearly 70 percent of the Fortune 500.
Last week, the company hired John K. Moore as senior vice president of client services in North America. Moore’s main objectives will be to expand the scope and depth of RMG’s consulting services, add a new strategic element to RMG’s value proposition for customers, bolster revenues for client services and optimize the overall customer experience.

Evolving Systems

Evolving Systems provides software solutions for service enablement, on-device activation and management of services for connected devices for network operators. Its software solutions are built for traditional and next-generation network technologies, including broadband networks and the mobile web.
The company’s 9.55-percent jump in share price last week may be attributable to the release of its Q4 2015 earnings after market close on March 15.

 
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.
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