Insider Selling: Pason Systems (TSE:PSI) Insider Sells 11,250 Shares of Stock

Key Points

• Celine Boston, an insider at Pason Systems, sold 11,250 shares for C$133,537.50, significantly reducing her stake by 85.60% to just 1,893 shares.
• Pason Systems announced a quarterly dividend of $0.13 per share, with an annualized yield of 4.4%, reflecting a payout ratio of 55.91%.
• Analysts have downgraded the stock from a "buy" to a "hold" rating, setting a new target price of C$13.00, with a consensus rating of "Hold" overall.

Pason Systems Inc. (TSE:PSI - Get Free Report) insider Celine Boston sold 11,250 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of C$11.87, for a total transaction of C$133,537.50. Following the completion of the sale, the insider directly owned 1,893 shares of the company's stock, valued at C$22,469.91. This represents a 85.60% decrease in their position.

Celine Boston also recently made the following trade(s):

• On Monday, September 15th, Celine Boston sold 1,500 shares of Pason Systems stock. The shares were sold at an average price of C$11.85, for a total transaction of C$17,775.00.

Pason Systems Trading Up 1.3%

Shares of PSI traded up C$0.15 during mid-day trading on Friday, reaching C$11.98. The stock had a trading volume of 2,739,127 shares, compared to its average volume of 172,881. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.59 and a quick ratio of 3.54. Pason Systems Inc. has a 52-week low of C$10.43 and a 52-week high of C$15.47. The business's fifty day moving average is C$11.77 and its 200 day moving average is C$12.02. The firm has a market cap of C$935.10 million, a price-to-earnings ratio of 12.88, a P/E/G ratio of 10.78 and a beta of 0.73.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.3%. Pason Systems's dividend payout ratio is currently 55.91%.

Wall Street Analyst Weigh In

Separately, TD Securities lowered shares of 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 equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Pason Systems has a consensus rating of "Hold" and an average 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.