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Precise Software Solutions gains on upgrade

Precise Software Solutions bucked Monday's selling trend, gaining $2.25, or 7 percent, to $33.31 after CIBC World Markets upgraded it from a "buy" rating to a "strong buy."

Precise Software (Nasdaq: PRSE) develops software that assists organizations in monitoring and optimizing the performance of their information technology infrastructure.

The stock moved up to a 52-week high of $44.38 in September after falling to a low of $18.44 in August.

Last quarter, it posted a loss of $1.1 million, or 5 cents a share, on sales of $7.6 million.

First Call Corp. consensus expects it lose 5 cents a share in its fourth quarter and 1 cent a share in fiscal 2001.

Both of the analysts following the stock rate it a "strong buy."