Rs 5/Share Dividend, 1:1 Bonus Issue: Multibagger IT Stock To Trade Ex-Bonus

Mid-cap IT Software company Newgen Software Technologies Ltd shares are all set to trade ex-bonus on January 12, 2024. Board of Newgen Software Technologies last year on November 27 approved bonus share in the ratio of 1:1 and fixed Jan 12 as record date. Newgen Software shares delivered 335% return in last 1-year and soared 487% in last 3-years. Check details below:

Newgen Software Technologies To Trade Ex-Bonus: According to the BSE filing of the company, "Newgen Software's Board of Directors had already approved 1:1 bonus issue on November 27 and fixed January 12 as the record date. It implies shareholders will become eligible to receive one bonus share for every one share held as on January 12, 2024."

Newgen Software Dividend: Newgen Software Technologies announced 6 dividends since August 1, 2018. In the last 12 months, Newgen Software Technologies announced an equity dividend amounting to Rs 5.00 per share. If the current share price of Rs 1605.70 is taken into consideration, Newgen Software Technologies offers dividend yield of 0.31%.

Jefferies Upgrades Target Price of Newgen Software Share: Foreign brokerage firm Jefferies has given buy rating to Newgen Software Technologies Ltd shares and upgraded the target price to Rs 1740 per share from Rs 1275 per share. According to the analyst, "We are more confident on Newgen's growth outlook and raise our revenue estimates by 2-3% and our EPS estimates by 2-4%. We expect Newgen to deliver a strong 26% EPS CAGR over FY24-26E."

According to the analyst, "Newgen has adopted a vertical specific point-solution based approach to enhance sales among existing and new customers. "This should limit Ebitda margin expansion in the future. We thus expect our FY24-26 margins to remain around the 22% range, added the analyst.

Newgen Software Stock Performance & Return Over Years: The stock's 52-week high price is Rs 1635.00 apiece and 52-week low price is Rs 359.10 apiece, respectively. Newgen Software shares gave strong return in last few years. Newgen Software shares gained 84% in last 3-months, soared 145% in last 6-months, rose 335% in last 1-year only, and gave return of 487% in last 3-years. In last 5-years, Newgen Software shares jumped 430%.

Newgen Software Technologies Financials: The company for the quarter ended September 2023 announced a growth of 29.7% in its revenue from operations to Rs 293 crore as against Rs 226 crore in the similar quarter of last year. Its EBITDA soared 59.3% YoY to Rs 57.2 crore for the quarter under consideration. The company's margins got better by 290 basis points to 19.5%. "Upon the sanction becoming effective from the appointed date i.e. 01.04.2022 as provided under the Scheme, NTSPL stands dissolved without undergoing the process of winding up," the company said.

About Newgen Software: Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.