Dev Information Technology Receives 'Buy' Rating

Dev Information Technology, a microcap IT software company, has recently received a 'Buy' rating from MarketsMOJO. This upgrade comes as the company has shown consistent positive results for the past 5 quarters, with a net sales growth of 68.21% and a higher PAT of Rs 6.77 crore in the last 9 months.
One of the key factors contributing to this upgrade is the company's low Debt to Equity ratio, which stands at 0.03 times on average. This indicates a strong financial position and stability for the company.

Moreover, the stock is currently in a bullish range and the technical trend has improved from mildly bullish to bullish on 18-Dec-23. This is supported by multiple factors such as MACD, Bollinger Band, and DOW.

In terms of valuation, Dev Information Technology is trading at a very attractive price with a ROCE of 14.1 and a 7 Enterprise value to Capital Employed. This is lower than its average historical valuations, making it a good investment opportunity.

Over the past year, the stock has generated a return of 27.50%, while its profits have risen by 354%. This is reflected in the company's low PEG ratio of 0.1, indicating a potential for future growth.

It is worth noting that the majority shareholders of Dev Information Technology are the promoters, which can be seen as a positive sign for investors.

However, there are some risks associated with the company, such as poor long-term growth as the operating profit has shown a decline of -4.08% annually over the last 5 years. This is something investors should keep in mind while making their investment decisions.

Overall, with its strong financial position, consistent positive results, and attractive valuation, Dev Information Technology seems like a promising investment opportunity for those looking to invest in the IT software industry.