GTY Technology Holdings Inc (NASDAQ: GTYH) was a big gainer in yesterday’s session, closing the day with gains of 14.40%. This came after the company announced that its budgeting unit had been selected by the city of New Orleans to actualize the city’s Questica Budget Suite Solution.
The city of New Orleans announced that through its partnership with GTY and INFOR, it had in its hands a powerful functionality of the Questica Budget Suite. This is a budgeting system that will help the city manage its budget more efficiently. The city’s Chief Finance Officer Norman White stated that the move to Questica technology was part of the city’s shift to offering more efficient cloud-based systems.
The city also announced that through Questica, they will have access to a wide array of services that help will help them develop better budget insights. The city also announced that they will get value from the system’s functionalities such as scorecards, and the ability to track a budget and meet all GFOA standards.
Commenting on the deal, GTY Chairman Stephen Rohleder stated that Questica was in pole position to transform the public sector and help cities manage their finances. He further added that the company’s Questica team and coming up with solutions to help solve the emerging needs of their customers. He also stated that the partnership with Infor would help government agencies get better outcomes from their budgetary processes.
From its price action, GTYH was in a reversal. It opened the day at $3.69, and then traded between a low of $3.31 and a high of $4.13, before closing the day at $4.13. Volumes in the day stood at 65.54k.
About GTY Technology Holdings Inc
GTY Technology Holdings Inc is a software company that offers cloud solutions all across North America. The company is based in Las Vegas, Nevada.