Sylogist (TSE:SYZ) Shares Up 0.3% After Dividend Announcement

Sylogist Ltd. (TSE:SYZ)’s share price was up 0.3% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as C$10.08 and last traded at C$10.08. Approximately 6,688 shares changed hands during trading, a decline of 85% from the average daily volume of 44,739 shares. The stock had previously closed at C$10.05.

The newly announced dividend which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, December 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Sylogist’s dividend payout ratio is presently 400.00%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYZ. Cormark increased their price target on Sylogist from C$12.25 to C$14.00 in a research report on Friday, August 9th. Acumen Capital set a C$13.25 price target on Sylogist in a research report on Friday, August 9th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$12.96.

Sylogist Price Performance

The firm has a market capitalization of C$235.37 million, a P/E ratio of 1,008.00 and a beta of 0.82. The business’s fifty day moving average is C$10.80 and its 200 day moving average is C$10.50. The company has a current ratio of 0.45, a quick ratio of 0.51 and a debt-to-equity ratio of 53.47.

Insider Buying and Selling

In other news, Director Taylor Gray sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of C$10.81, for a total transaction of C$108,100.00. Insiders own 3.34% of the company’s stock.

About Sylogist

Sylogist Ltd., a software company, provides mission-critical software-as-a-service solutions in Canada, the United States, and the United Kingdom. The company offers SylogistMission constituent relationship management system, which includes donor management, fundraising, volunteer management, and program delivery; and enterprise resource management, such as accounting and financial management, grant and award management, budget management, payroll and human resources, analytics and reporting, and support and training.