Tecsys (TSE:TCS) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Tecsys Inc. (TSE:TCS)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$30.86 and traded as low as C$29.99. Tecsys shares last traded at C$30.57, with a volume of 17,109 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TCS shares. ATB Cormark Capital Markets raised Tecsys from a “hold” rating to a “moderate buy” rating and set a C$40.00 price target for the company in a report on Friday, March 6th. Canadian Imperial Bank of Commerce cut their target price on shares of Tecsys from C$50.00 to C$40.00 in a research note on Thursday, March 5th. Finally, National Bank Financial upgraded shares of Tecsys from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$40.00 to C$46.00 in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Tecsys has an average rating of “Moderate Buy” and a consensus target price of C$38.62.

Tecsys Stock Down 2.9%

The business’s 50-day moving average is C$35.46 and its two-hundred day moving average is C$30.86. The company has a debt-to-equity ratio of 7.68, a quick ratio of 1.40 and a current ratio of 1.19. The firm has a market capitalization of C$447.54 million, a price-to-earnings ratio of 76.42 and a beta of 0.81.

Tecsys (TSE:TCS) last announced its quarterly earnings results on Monday, June 29th. The company reported C($0.02) earnings per share for the quarter. The firm had revenue of C$50.05 million for the quarter. Tecsys had a return on equity of 8.57% and a net margin of 3.15%. On average, equities analysts anticipate that Tecsys Inc. will post 0.4600739 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Brereton sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$36.47, for a total value of C$36,470.00. Following the completion of the transaction, the director owned 719,272 shares in the company, valued at C$26,231,849.84. This represents a 0.14% decrease in their ownership of the stock. Insiders have sold a total of 2,300 shares of company stock valued at $83,419 over the last 90 days. Insiders own 17.05% of the company’s stock.

About Tecsys

Tecsys is trusted by mission-critical organizations in healthcare and distribution to build resilient, efficient and secure supply chains. A global provider of cloud-based, AI-driven software with deep domain expertise, Tecsys delivers real-time operational visibility and execution across critical workflows when performance and reliability matter most. Tecsys is publicly traded on the Toronto Stock Exchange (TCS). For more information, visit www.tecsys.com.