Tecsys (TSE:TCS) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• Tecsys Inc. (TSE:TCS) stock has dropped below its 200-day moving average, trading at C$36.85, significantly lower than the moving average of C$41.06.
• Analysts at Ventum Financial have revised their target price for Tecsys shares down from C$52.00 to C$47.00 but maintained a "buy" rating on the stock.
• The company has increased its quarterly dividend to $0.085 per share from the previous $0.08, indicating a commitment to shareholder returns despite a high dividend payout ratio of 183.81%.

Tecsys Inc. (TSE:TCS - Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.06 and traded as low as C$36.75. Tecsys shares last traded at C$36.85, with a volume of 3,237 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Ventum Financial cut their price target on Tecsys from C$52.00 to C$47.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Tecsys presently has an average rating of "Buy" and an average target price of C$48.50.

Tecsys Stock Up 1.0%

The stock has a 50-day simple moving average of C$38.60 and a two-hundred day simple moving average of C$40.89. The firm has a market cap of C$550.40 million, a PE ratio of 214.43 and a beta of 0.65. The company has a quick ratio of 1.40, a current ratio of 1.31 and a debt-to-equity ratio of 2.64.

Tecsys Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, July 11th were issued a dividend of $0.085 per share. This is a boost from Tecsys's previous quarterly dividend of $0.08. This represents a $0.34 annualized dividend and a yield of 0.9%. Tecsys's dividend payout ratio is currently 183.81%.

About Tecsys

Tecsys Inc engages in the development, marketing, and sale of enterprise-wide supply chain management software and related services in Canada, the United States, Europe, and internationally. The company offers warehouse management, distribution and transportation management, supply management at point-of-use and order management and fulfillment, as well as financial management and analytics solutions.