Ardevora Asset Management Llp buys $28.8 Million stake in NetSuite Inc (N)

NetSuite Inc (N) : Ardevora Asset Management Llp scooped up 145,200 additional shares in NetSuite Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 375,600 shares of NetSuite Inc which is valued at $28.8 Million.NetSuite Inc makes up approximately 1.40% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Lazard Asset Management sold out all of its stake in N during the most recent quarter. The investment firm sold 285 shares of N which is valued $21,891. Keybank National Associationoh added N to its portfolio by purchasing 3,535 company shares during the most recent quarter which is valued at $271,523.First Trust Advisors Lp reduced its stake in N by selling 268,697 shares or 23.83% in the most recent quarter. The Hedge Fund company now holds 858,643 shares of N which is valued at $66 Million. NetSuite Inc makes up approx 0.21% of First Trust Advisors Lp’s portfolio.Teachers Advisors Inc boosted its stake in N in the latest quarter, The investment management firm added 133 additional shares and now holds a total of 32,560 shares of NetSuite Inc which is valued at $2.5 Million.Gagnon Securities boosted its stake in N in the latest quarter, The investment management firm added 21,468 additional shares and now holds a total of 77,479 shares of NetSuite Inc which is valued at $5.9 Million. NetSuite Inc makes up approx 2.92% of Gagnon Securities’s portfolio.

NetSuite Inc opened for trading at $77.3 and hit $78.25 on the upside on Friday, eventually ending the session at $78.12, with a gain of 1.75% or 1.34 points. The heightened volatility saw the trading volume jump to 6,14,307 shares. Company has a market cap of $6,284 M.

On the company’s financial health, NetSuite Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $216.60 million for the quarter, compared to analysts expectations of $213.37 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on NetSuite Inc. Company shares were Reiterated by SunTrust on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .Company shares were Reiterated by Sun Trust Rbsn Humphrey on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .Company shares were Reiterated by Mizuho on May 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

NetSuite Inc. (NetSuite) is a provider of cloud-based financials enterprise resource planning (ERP) and omnichannel commerce software suites. The Company’s offerings include NetSuite NetSuite OneWorld NetSuite CRM+ NetSuite OpenAir PSA SuiteCommerce NetSuite POS TribeHR LightCMS Add-On Modules NetSuite Industry Editions and SuiteCloud Platform. Its main offering is NetSuite which provides core business management capabilities. NetSuite OneWorld and NetSuite CRM+ are designed for use by most types of businesses. NetSuite OpenAir (OpenAir) PSA is for professional services businesses. SuiteCommerce enables businesses to move from standalone transactional channels to an integrated commerce solution. NetSuite POS is a point-of-sale solution. TribeHR is a HCM solution. LightCMS is a Web-based software platform. SuiteCloud is the Company’s technology platform. It delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.

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