Dye & Durham Partners with Software Provider NexOne

Dye & Durham (TSE: DND) announced Thursday a partnership with software provider NexOne to further enhance Dye & Durham’s Unity real estate software application.

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Increasing Productivity and Efficiency

NexOne sells tools for real estate professionals and brokers.

Leveraging NexOne’s technology, legal professionals will now be able to import contract information for the purchase and sale of properties from real estate brokers across Canada directly into their Unity accounts.

This new feature will eliminate the need for unsecured faxes and emails and manual re-entering of information, increasing efficiency and reducing the chance of error. The feature is included in Dye & Durham’s unique bundled fee structure, introduced in late January.

CEO Commentary

Dye & Durham CEO Matthew Proud said, “We’re always looking for opportunities to make our customers’ lives easier and more productive. This partnership does exactly that, while further strengthening what already is the most sophisticated and feature-rich real estate conveyancing solution in the world. We remain committed as always to innovating our product offering and ensuring our customers have what they need to successfully and efficiently complete a real estate transaction.”

Wall Street’s Take

On February 2, BMO Capital analyst Thanos Moschopoulos kept a Buy rating on DND and lowered the price target to C$53 (from C$60). This implies 84.6% upside potential.

The rest of the Street is bullish on DND, with a Strong Buy consensus rating based on four Buys and one Hold. The average Dye & Durham price target of C$61.80 implies 115.3% upside potential from current levels.

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