Canadian Imperial Bank of Commerce Cuts Tecsys (TSE:TCS) Price Target to C$40.00

Tecsys (TSE:TCS) had its target price dropped by investment analysts at Canadian Imperial Bank of Commerce from C$50.00 to C$40.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective suggests a potential upside of 39.47% from the stock’s previous close.

Several other brokerages have also issued reports on TCS. National Bank Financial lifted their price target on Tecsys from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. Stifel Nicolaus cut Tecsys from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$48.00 to C$28.50 in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$38.90.

Tecsys Price Performance

TCS traded up C$2.67 on Thursday, reaching C$28.68. The company had a trading volume of 71,265 shares, compared to its average volume of 36,396. Tecsys has a 52-week low of C$22.51 and a 52-week high of C$44.97. The company has a market cap of C$422.97 million, a price-to-earnings ratio of 79.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.40 and a current ratio of 1.25. The business has a 50 day simple moving average of C$27.06 and a 200 day simple moving average of C$31.96.

Tecsys (TSE:TCS) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C$0.12 EPS for the quarter. Tecsys had a net margin of 2.91% and a return on equity of 8.05%. The firm had revenue of C$48.50 million for the quarter. As a group, sell-side analysts anticipate that Tecsys will post 0.4600739 EPS for the current year.

Insider Activity at Tecsys

In related news, Director David Brereton sold 800 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$32.73, for a total transaction of C$26,184.00. Following the completion of the sale, the director directly owned 737,772 shares in the company, valued at C$24,147,277.56. This represents a 0.11% decrease in their position. Insiders have sold 2,100 shares of company stock valued at $67,521 over the last quarter. 17.05% of the stock is owned by 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.