Quorum Information Technologies (CVE:QIS) Shares Up 1.2% – Here’s Why

Shares of Quorum Information Technologies Inc. (CVE:QIS) shot up 1.2% on Monday . The company traded as high as C$0.88 and last traded at C$0.87. 13,200 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 21,962 shares. The stock had previously closed at C$0.86.

Wall Street Analysts Forecast Growth

Separately, Cormark raised their price target on shares of Quorum Information Technologies from C$0.85 to C$1.00 in a research note on Friday, August 23rd.

Quorum Information Technologies Stock Up 3.6 %

The firm has a market capitalization of C$63.28 million, a PE ratio of 30.67 and a beta of 0.20. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 41.17. The business has a 50-day moving average price of C$0.87 and a 200-day moving average price of C$0.82.

Quorum Information Technologies (CVE:QIS) last posted its quarterly earnings results on Wednesday, August 21st. The company reported C$0.01 EPS for the quarter. The business had revenue of C$9.95 million for the quarter, compared to analyst estimates of C$10.30 million. Quorum Information Technologies had a return on equity of 0.53% and a net margin of 0.36%. Equities research analysts forecast that Quorum Information Technologies Inc. will post 0.0500305 earnings per share for the current fiscal year.

About Quorum Information Technologies

Quorum Information Technologies Inc, an information technology company, focuses on the automotive retail business in Canada and the United States. The company develops, markets, implements, and supports software products for the automotive market, including Quorum DMS, a dealership management system; Autovance Desk; Menu and MyDeal, a sales desking, menuing, and digital retailing system; DealerMine Service, Sales Customer Relationship Management, and Business Development Centre; Accessible Accessories, a digital retailing platform; and VINN, an automotive marketplace.