Pason Systems (TSE:PSI) Insider Lars Olesen Sells 13,000 Shares of Stock

Pason Systems Inc. (TSE:PSI) insider Lars Olesen sold 13,000 shares of Pason Systems stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of C$14.60, for a total transaction of C$189,800.00. Following the sale, the insider owned 8,800 shares in the company, valued at C$128,480. This represents a 59.63% decrease in their position.

Pason Systems Trading Down 0.1%

TSE PSI opened at C$14.55 on Tuesday. The stock has a market cap of C$1.13 billion, a P/E ratio of 23.47, a PEG ratio of 10.78 and a beta of 0.43. The company’s fifty day simple moving average is C$12.91 and its 200-day simple moving average is C$13.17. The company has a current ratio of 2.29, a quick ratio of 3.54 and a debt-to-equity ratio of 5.51. Pason Systems Inc. has a 52 week low of C$11.09 and a 52 week high of C$15.47.

Pason Systems (TSE:PSI) last released its quarterly earnings results on Tuesday, August 11th. The company reported C$0.18 earnings per share for the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. The business had revenue of C$100.78 million during the quarter. Equities research analysts predict that Pason Systems Inc. will post 1.229765 EPS for the current fiscal year.

Pason Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.52 annualized dividend and a dividend yield of 3.6%. Pason Systems’s dividend payout ratio (DPR) is currently 83.87%.

Key Headlines Impacting Pason Systems

Here are the key news stories impacting Pason Systems this week:

• Negative Sentiment: Five insiders collectively sold approximately 92,691 shares of Pason Systems for total proceeds of about C$1.35 million in transactions conducted August 13–14.
• Negative Sentiment: Jonathan Faber sold 45,000 shares for C$654,750, reducing his position by 51.72% to 42,000 shares.
• Negative Sentiment: Bryce Mclean sold 16,700 shares for C$243,820 and an additional 2,777 shares for C$40,211, reducing his reported ownership by 65.35% and 22.85% in the respective transactions.
• Negative Sentiment: Lars Olesen sold 13,000 shares for C$189,800, cutting his position by 59.63% to 8,800 shares.
• Negative Sentiment: Russell Smith sold 6,500 shares for C$95,550, reducing his holdings by 46.43% to 7,500 shares.
• Negative Sentiment: Kevin Boston sold 6,000 shares for C$87,840 and another 2,714 shares for C$40,004, leaving him with 7,300 shares after the reported transactions.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PSI shares. TD reduced their price target on Pason Systems from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Monday, July 13th. TD Securities upgraded Pason Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada raised their price target on shares of Pason Systems from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.83.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.