Canadian Imperial Bank of Commerce Has Lowered Expectations for Tecsys (TSE:TCS) Stock Price

Tecsys (TSE:TCS) had its price target reduced by investment analysts at Canadian Imperial Bank of Commerce from C$50.00 to C$40.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 37.41% from the stock’s previous close.

A number of other brokerages have also recently issued reports on TCS. National Bank Financial boosted their target price on shares of Tecsys from C$28.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. Stifel Nicolaus lowered shares of Tecsys from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$48.00 to C$28.50 in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$37.50.

Tecsys Stock Performance

TSE:TCS opened at C$29.11 on Thursday. The stock has a 50 day simple moving average of C$26.94 and a 200 day simple moving average of C$31.88. The stock has a market cap of C$429.31 million, a P/E ratio of 80.86 and a beta of 0.78. Tecsys has a 1-year low of C$22.51 and a 1-year high of C$44.86. The company has a current ratio of 1.19, a quick ratio of 1.40 and a debt-to-equity ratio of 7.68.

Tecsys (TSE:TCS) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C$0.12 EPS for the quarter. The firm had revenue of C$48.50 million for the quarter. Tecsys had a return on equity of 8.57% and a net margin of 3.15%. Research analysts anticipate that Tecsys will post 0.4600739 earnings per share for the current year.

Insider Activity at Tecsys

In other news, Director David Brereton sold 800 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$32.73, for a total value of C$26,184.00. Following the completion of the transaction, the director owned 737,772 shares of the company’s stock, valued at approximately C$24,147,277.56. This represents a 0.11% decrease in their ownership of the stock. Insiders have sold a total of 2,100 shares of company stock valued at $67,521 over the last three months. 17.05% of the stock is currently owned by corporate insiders.

Tecsys Company Profile

Tecsys Inc is engaged in the development and sale of enterprise supply chain management software for distribution, warehousing, transportation logistics, point-of-use and order management. It also provides related consulting, education and support services. The company serves healthcare systems, services parts, third-party logistics, retail and general wholesale distribution industries. Geographically, it derives a majority of revenue from the United States and also has a presence in Canada and Other Countries.