09:57:07 EDT Mon 06 May 2024
Enter Symbol
or Name
USA
CA



Quisitive Technology Solutions Inc
Symbol QUIS
Shares Issued 405,627,619
Close 2024-04-01 C$ 0.40
Market Cap C$ 162,251,048
Recent Sedar Documents

Globe says Eight Cap's Sgro keeps Quisitive at "buy"

2024-04-01 07:04 ET - In the News

The Globe and Mail reports in its Friday, March 29, edition that Eight Capital analyst Christian Sgro has reaffirmed his "buy" recommendation for Quisitive Technology Solutions. The Globe's David Leeder writes that Mr. Sgro gave his share target a 25-cent trim to 75 cents. Analysts on average target the shares at 69 cents. Earlier in the week the Toronto-based Microsoft cloud and artificial intelligence solutions provider announced the sale of its BankCard USA Merchant Services business unit to BUSA Acquisition, a Nevada incorporated entity owned by a consortium of current employees of BankCard. The deal includes $40-million in cash and the balance in cancelled shares and released earnouts with Mr. Sgro estimating total consideration coming in at $87-million. Mr. Sgro says in a note: "The sale price is fair in context and we like the transaction for two key reasons. ... First, Quisitive is paying down significant debt and reducing leverage. Second, this creates an undivided focus on the Microsoft cloud business, streamlining the operational model. In terms of valuation, this reduces the complexity of the consolidated profile and makes Quisitive's discount to peers more clear as a pure play cloud business."

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