Enghouse Systems Receives a Buy from RBC Capital

By Ryan Adsit

Enghouse Systems (TSX: ENGH), the Technology company, has received a rating update from a Wall Street analyst yesterday. Analyst Drew Mcreynolds from RBC Capital reiterated a Buy rating, with a C$60 price target.

According to TipRanks.com, Mcreynolds is a 4-star analyst with an average return of 7.1% and a 58.6% success rate. Mcreynolds covers the Technology sector, focusing on stocks such as Rogers Communication, Descartes, and Shopify.

Enghouse Systems has an analyst consensus of Strong Buy, with a price target consensus of C$62.67.

Based on Enghouse Systems’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of C$82.76 million and quarterly net profit of C$11.18 million. In comparison, last year the company earned revenue of C$78.73 million and had a net profit of C$19.91 million.

Enghouse Systems Ltd. engages in the development of enterprise software solutions. The company operates through two segments: Interactive Management Group and Asset Management Group.

The company’s shares closed on Tuesday at C$54.75.