Kevin Boston Sells 3,000 Shares of Pason Systems (TSE:PSI) Stock

Key Points

• Insider Kevin Boston sold 3,000 shares of Pason Systems stock at an average price of C$11.94, resulting in a total value of C$35,820, which decreased his ownership stake by 29.13%.
• Pason Systems will pay a quarterly dividend of $0.13 per share on September 29th, yielding 4.4% annually, with an ex-dividend date of September 15th.
• TD Securities downgraded Pason Systems from a "buy" to a "hold" rating, setting a price target of C$13.00, while analysts maintain a consensus target price of C$16.63.

Pason Systems Inc. (TSE:PSI - Get Free Report) insider Kevin Boston sold 3,000 shares of Pason Systems stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of C$11.94, for a total value of C$35,820.00. Following the completion of the sale, the insider directly owned 7,300 shares in the company, valued at C$87,162. This represents a 29.13% decrease in their position.

Pason Systems Stock Up 0.5%

Shares of TSE PSI traded up C$0.06 during mid-day trading on Tuesday, hitting C$11.70. The company had a trading volume of 124,001 shares, compared to its average volume of 154,209. The company has a market capitalization of C$913.24 million, a PE ratio of 12.58, a price-to-earnings-growth ratio of 10.78 and a beta of 0.73. The firm has a 50-day simple moving average of C$11.94 and a two-hundred day simple moving average of C$12.06. The company has a current ratio of 2.59, a quick ratio of 3.54 and a debt-to-equity ratio of 3.19. Pason Systems Inc. has a one year low of C$10.43 and a one year high of C$15.47.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Pason Systems's payout ratio is currently 55.91%.

Analyst Ratings Changes

Separately, TD Securities cut Pason Systems from a "buy" rating to a "hold" rating and set a C$13.00 price objective for the company. in a report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Pason Systems currently has a consensus rating of "Hold" and a consensus target price of C$16.63.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.