Sylogist (CVE:SYZ) Cut to Buy at Cormark

Sylogist (CVE:SYZ) was downgraded by Cormark from a “top pick” rating to a “buy” rating in a report released on Wednesday, BayStreet.CA reports. They presently have a C$15.00 target price on the stock, down from their previous target price of C$17.00. Cormark’s target price would suggest a potential upside of 30.43% from the stock’s current price.

Shares of CVE SYZ traded down C$0.19 during mid-day trading on Wednesday, hitting C$11.50. The company had a trading volume of 10,971 shares, compared to its average volume of 11,224. The stock has a market cap of $257.45 million and a P/E ratio of 20.91. Sylogist has a 1-year low of C$10.84 and a 1-year high of C$14.76. The business’s 50-day moving average price is C$11.41.

Sylogist (CVE:SYZ) last announced its quarterly earnings data on Tuesday, May 14th. The company reported C$0.11 earnings per share (EPS) for the quarter. The company had revenue of C$9.50 million during the quarter, compared to analyst estimates of C$9.70 million. Equities research analysts predict that Sylogist will post 0.6399999 earnings per share for the current year.

In related news, Director James Wilson sold 39,500 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$12.00, for a total value of C$474,000.00. Following the transaction, the director now owns 260,500 shares of the company’s stock, valued at C$3,126,000. Also, Director C. Fraser Elliott sold 60,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$11.15, for a total value of C$669,000.00. Following the completion of the transaction, the director now directly owns 367,333 shares in the company, valued at approximately C$4,095,762.95. Insiders sold 1,606,500 shares of company stock worth $18,312,870 in the last three months.

Sylogist Company Profile

Sylogist Ltd. provides enterprise resource planning (ERP) solutions to local governments, non-profit and non-governmental organizations, and K-12 education markets in Canada, the United States, the United Kingdom, and internationally. It offers Serenic Navigator solutions comprises accounting and financial management, award and budget management, payroll and human resources, analytics and decision support, reporting, deposits and loans, and field connect products.

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