Why is Newgen Software falling/rising?

As of 05-Jun, Newgen Software Technologies Ltd is currently priced at 1,224.95, reflecting a decrease of 6.2 points or 0.5%. Today, the stock opened with a gain of 2.34% and reached an intraday high of Rs 1,335.7, representing an increase of 8.49%. However, it has underperformed its sector by 0.85%, and the delivery volume has significantly decreased by 60.74% compared to the 5-day average, indicating falling investor participation. Despite this, the company has shown strong long-term fundamentals, with a low debt-to-equity ratio and consistent positive results over the last nine quarters, including a 20.89% growth in PAT. The stock has also delivered impressive returns over the past year, outperforming the BSE 500 index.
In terms of broader market context, Newgen Software's short-term performance over the past week shows a gain of 0.98%, while the Sensex has declined by 0.23%. This indicates that the stock is performing relatively well compared to the broader market in the short term. However, the year-to-date performance is concerning, with a decline of 27.97% against a 4.23% increase in the Sensex. The stock's strong historical returns, including a 534.44% increase over the last three years, suggest that while it may be facing short-term challenges, its long-term prospects remain robust, supported by high institutional holdings and strong profitability metrics.