CLPS (NASDAQ:CLPS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, ValuEngine reports.

Shares of CLPS stock traded down $0.07 during trading on Friday, reaching $5.94. 10,029 shares of the company were exchanged, compared to its average volume of 66,716. CLPS has a twelve month low of $2.12 and a twelve month high of $17.99.

A hedge fund recently raised its stake in CLPS stock. Morgan Stanley increased its stake in shares of CLPS Inc (NASDAQ:CLPS) by 87.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,468 shares of the company’s stock after purchasing an additional 6,294 shares during the period. Morgan Stanley owned approximately 0.10% of CLPS worth $139,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.63% of the company’s stock.

About CLPS

CLPS Incorporation provides information technology and consulting services to banking, insurance, and financial sectors in the People's Republic of China and internationally. It offers IT consulting services in credit card business areas, such as credit card application, account setup, authorization and activation, settlement, collection, promotion, point system, anti-fraud, statement, reporting, and risk management.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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