Shares of the global business services and enterprise application solutions provider NetSol Technologies Inc. (NASDAQ: NTWK) have been losing grounds this morning. At last check-in premarket session, NetSol stock was at a decline of -4.07% to $5.18.
On Tuesday, NTWK stock appreciated 25.29% which resulted in a $0.09 improvement from the previous closing price. The lowest point reached by NetSol stock during the day was $4.64, while the highest price was $6.12. According to data provided by Barchart, NTWK stock finished the last session at $4.31, with a trading volume recorded of 20.71 million. In response to news that an existing agreement had been renewed, the NTWK stock rose. Yet, investors appear to be taking profits today.
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The contract extended for what?
NETSOL specializes in providing IT and enterprise software to the finance and leasing industry worldwide. NTWK’s software applications are backed by 40 years of domain expertise and supported by a team of more than 1300 professionals deployed throughout eight of the world’s strategic delivery and support centers. The NFS solution, LeasePak, LeaseSoft, or NFS Ascent by NTWK enables companies to organize finance and leasing services in ways that remove the manual processes. The asset-based finance solutions cover the entire finance and leasing lifecycle.
One of NETSOL’s tier-one Japanese automotive customers in Thailand has renewed its multi-million-dollar agreement with NTWK. NTWK’s NFS Retail platform continues to be licensed to this customer under the terms of the contract. It will also include NTWK’s NFS Contract Management System (CMS) and NFS Credit Application Processing System (CAP).
NTWK stays ahead:
In addition to streamlining operations, NetSol (NTWK) does more than that by helping clients prepare for the future by staying one step ahead of their competition. More broadly, the renewal further strengthens NTWK’s position as the preferred partner for auto captives and finance companies across Asia-Pacific.