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The latest announcement is out from Quorum Information Technologies ( (TSE:QIS) ).
Quorum Information Technologies Inc. has announced the completion of its acquisition by 2745122 Alberta Inc., an affiliate of Valsoft Corporation Inc., at $0.80 per share. This acquisition will lead to the delisting of Quorum’s shares from the TSX Venture Exchange, and the company will apply to cease being a reporting issuer in Canada. These developments mark a significant shift in Quorum’s market presence and operational strategy, potentially impacting stakeholders and altering its industry positioning.
The most recent analyst rating on (TSE:QIS) stock is a Buy with a C$0.88 price target. To see the full list of analyst forecasts on Quorum Information Technologies stock, see the TSE:QIS Stock Forecast page.
Spark’s Take on TSE:QIS Stock
According to Spark, TipRanks’ AI Analyst, TSE:QIS is a Outperform.
Quorum Information Technologies’ strong financial performance and positive corporate events, including the strategic acquisition by Valsoft Corporation, are the most significant factors driving the score. The technical analysis shows a neutral trend with potential for upward movement. However, the high P/E ratio indicates overvaluation, which tempers the overall score.
To see Spark’s full report on TSE:QIS stock, click here.
More about Quorum Information Technologies
Quorum Information Technologies Inc. is a North American SaaS company that provides essential enterprise solutions for automotive dealerships and Original Equipment Manufacturers. Their offerings include a Dealership Management System, DealerMine CRM, Autovance retailing platform, Accessible Accessories digital retailing platform, and VINN Automotive marketplace, all aimed at enhancing dealership operations, revenue generation, and customer satisfaction.
Average Trading Volume: 45,342
Technical Sentiment Signal: Sell
Current Market Cap: C$58.55M
See more data about QIS stock on TipRanks’ Stock Analysis page.