Solium Capital Gets a Buy Rating from Canaccord Genuity

By Jason Carr

Today, an analyst has provided a rating update for the Technology company, Solium Capital (TSX: SUM). Canaccord Genuity’s analyst Robert Young reiterates their Buy rating on the shares, with a C$11 price target.

According to TipRanks.com, Young is a 5-star analyst with an average return of 15.6% and a 75.5% success rate. Young covers the Technology sector, focusing on stocks such as Dragonwave Inc, CounterPath, and Wi-Lan Inc.

Solium Capital has an analyst consensus of Moderate Buy, with a price target consensus of C$10.50.

Based on Solium Capital’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$28.14 million and quarterly net profit of C$3.37 million. In comparison, last year the company earned revenue of C$25.38 million and had a net profit of C$1.84 million.

Solium Capital, Inc. provides cloud-enabled services for global equity administration, financial reporting, and compliance. Its software-as-a-service technology powers share plan administration and equity transactions for corporate clients with employee participants in many countries. The company technology platforms, Shareworks, StockVantage and Transcentive, are online solutions that integrate the management of multiple equity plan types, including stock options, share units, share appreciation rights, restricted stock awards, and employee share purchase plans. It operates through the following segments: Canada, United States, and International. Solium Capital was founded by John Kenny and Mark Van Hees on September 16, 1999 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $10.60.