Ardevora Asset Management Llp Lowers stake in NetSuite Inc (N)

NetSuite Inc (N) : Ardevora Asset Management Llp reduced its stake in NetSuite Inc by 11.63% during the most recent quarter end. The investment management company now holds a total of 331,900 shares of NetSuite Inc which is valued at $36,087,487 after selling 43,700 shares in NetSuite Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.NetSuite Inc makes up approximately 1.43% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Blair William Coil reduced its stake in N by selling 125 shares or 2.95% in the most recent quarter. The Hedge Fund company now holds 4,119 shares of N which is valued at $447,859.Utah Retirement Systems boosted its stake in N in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 7,300 shares of NetSuite Inc which is valued at $792,269. NetSuite Inc makes up approx 0.02% of Utah Retirement Systems’s portfolio. Msi Financial Services Inc sold out all of its stake in N during the most recent quarter. The investment firm sold 150 shares of N which is valued $13,736.Creative Planning boosted its stake in N in the latest quarter, The investment management firm added 61 additional shares and now holds a total of 4,026 shares of NetSuite Inc which is valued at $324,012.

NetSuite Inc opened for trading at $108.64 and hit $108.82 on the upside on Monday, eventually ending the session at $108.62, with a gain of 0.02% or 0.02 points. The heightened volatility saw the trading volume jump to 4,03,360 shares. Company has a market cap of $8,791 M.

On the company’s financial health, NetSuite Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $230.77 million for the quarter, compared to analysts expectations of $230.53 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on NetSuite Inc. NetSuite Inc was Downgraded by SunTrust to ” Neutral” on Aug 12, 2016. Company shares were Downgraded by MKM Partners on Aug 2, 2016 to ” Neutral”, Firm has raised the Price Target to $ 109 from a previous price target of $92 .NetSuite Inc was Upgraded by Goldman to ” Neutral” on Jul 29, 2016.

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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