Quorum Information Technologies (CVE:QIS) Stock Price Down 5.4%

Quorum Information Technologies Inc. (CVE:QIS) shares were down 5.4% during mid-day trading on Friday . The stock traded as low as C$0.88 and last traded at C$0.88. Approximately 1,000 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 21,120 shares. The stock had previously closed at C$0.93.

Analysts Set New Price Targets

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

Quorum Information Technologies Price Performance

The stock has a market capitalization of C$64.75 million, a price-to-earnings ratio of 30.67 and a beta of 0.21. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 41.17. The stock has a 50-day moving average price of C$0.89 and a 200 day moving average price of C$0.79.

Quorum Information Technologies (CVE:QIS) last posted its quarterly earnings data on Wednesday, August 21st. The company reported C$0.01 EPS for the quarter. The business had revenue of C$9.95 million during the quarter, compared to analysts’ expectations of C$10.30 million. Quorum Information Technologies had a return on equity of 0.53% and a net margin of 0.36%. As a group, equities research analysts expect that Quorum Information Technologies Inc. will post 0.0499716 earnings per share for the current 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.