Increased Visibility, Importance of Legacy Modernization Drives Momentum
Legacy modernization company Modern Systems’ (NASDAQ
:MDSY) major shareholder Prescott Group Capital Management purchased 65,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, March 25th. The shares were purchased at an average price of $2.40 per share, for a total transaction of $156,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Modern Systems (NASDAQ:MDSY) traded up 9.52% on Friday, hitting $2.99. The stock had a trading volume of 3,147 shares. Modern Systems has a 52-week low of $2.10 and a 52-week high of $4.48. The stock has a 50-day moving average of $2. and a 200-day moving average of $3.. The company’s market cap is $34.74 million.
Modern Systems develops and markets enterprise legacy modernization (NASDAQ:MDSY) solutions. The Company’s solutions enable companies to automate the process of modernizing and upgrading their mainframe and distributed IT infrastructure to modern environments.
