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Stock News: CLPS Incorporation (NASDAQ:CLPS)

 CLPS Incorporation (NASDAQ:CLPS) spotted trading -71.94% off 52-week high price. On the other end, the stock has been noted 138.21% away from the low price over the last 52-weeks. The stock changed 0.20% to recent value of $5.05. The stock transacted 9889 shares during most recent day however it has an average volume of 18.43K shares. The company has 13.78M of outstanding shares and 3.62M shares were floated in the market.  

 On Sept. 27, 2019, CLPS Incorporation (NASDAQ:CLPS) a leading information technology consulting and solutions service provider focusing on the banking, insurance, and financial sectors in China and globally,  declared that, through its subsidiary Qiner Co., Limited (Qiner), it has acquired 80% of the equity of RiDik Pte. Ltd. (RiDik), a Singapore-based IT services company.

Incorporated in 2010, RiDik provides professional IT services and solutions to various target market segments, from startups to large enterprises in Singapore and Malaysia. It serves clients across multiple industries, including telecommunications, finance, energy, and engineering. RiDik also explores cutting-edge technologies and undertakes client projects in the areas of mobile application, robotic process automation (RPA), business intelligence (BI), and business analytics.

Mr. Raymond Lin, Co-Founder and Chief Executive Officer of CLPS, commented, We are excited to welcome RiDik into the CLPS family, our second international acquisition following InfoGain. The potential and dynamic we see in RiDik enable us to further expand our market share and brand influence in the Southeast Asia region and to provide extensive IT solution implementations to a broad array of potential client and application scenarios. In addition, our globalization strategy helps us to attract more international talent to boost our talent development program and, in the process, produce more professionals that can ably compete in the global stage.

Mr. Srustijeet Mishra, Founder of RiDik, said, Using CLPS’s extensive experience in setting up offshore delivery centers (ODC), its acquisition of RiDik will fast track our expansion plan by establishing the same in Bhubaneswar, India, thus creating an efficient synergy in the IT consulting field.

 Its earnings per share (EPS) expected to touch remained 16.30% for this year.CLPS has a gross margin of 34.70%. 

 According to the most recent quarter its current ratio was 2.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.69% from the mean of 20 days, -3.64% from mean of 50 days SMA and performed -28.04% from mean of 200 days price. Company’s performance for the week was 1.61%, -2.78% for month and YTD performance remained 108.68%.

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