Integre Asset Management buys $4,303,709 stake in NetSuite Inc (N)

NetSuite Inc (N) : Integre Asset Management scooped up 6,127 additional shares in NetSuite Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 39,629 shares of NetSuite Inc which is valued at $4,303,709.NetSuite Inc makes up approximately 1.40% of Integre Asset Management’s portfolio.

Other Hedge Funds, Including , Guggenheim Capital reduced its stake in N by selling 4,730 shares or 55.88% in the most recent quarter. The Hedge Fund company now holds 3,735 shares of N which is valued at $405,621.Bokf Na boosted its stake in N in the latest quarter, The investment management firm added 508 additional shares and now holds a total of 4,577 shares of NetSuite Inc which is valued at $497,062. NetSuite Inc makes up approx 0.02% of Bokf Na’s portfolio. Secor Capital Advisors Lp added N to its portfolio by purchasing 14,709 company shares during the most recent quarter which is valued at $1,599,310. NetSuite Inc makes up approx 0.22% of Secor Capital Advisors Lp’s portfolio.California Public Employees Retirement System reduced its stake in N by selling 2,100 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 74,900 shares of N which is valued at $8,128,897. NetSuite Inc makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

NetSuite Inc opened for trading at $108.9 and hit $109.01 on the upside on Thursday, eventually ending the session at $109.01, with a gain of 0.10% or 0.11 points. The heightened volatility saw the trading volume jump to 2,18,004 shares. Company has a market cap of $8,822 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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