Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.86 Consensus PT from Analysts

Converge Technology Solutions Corp. (TSE:CTS) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$5.86.

Several analysts have issued reports on the company. National Bank Financial lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Ventum Financial cut their price objective on Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday, November 13th. Cormark cut shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Raymond James dropped their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Finally, TD Securities decreased their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, Senior Officer Greg Berard acquired 10,105 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is owned by company insiders.

Converge Technology Solutions Trading Up 1.8 %

Shares of CTS stock opened at C$3.36 on Monday. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The company has a market cap of C$655.87 million, a price-to-earnings ratio of -4.20, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The firm has a fifty day moving average price of C$3.87 and a 200-day moving average price of C$4.28.

Converge Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th will be issued a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.79%. Converge Technology Solutions’s dividend payout ratio (DPR) is -7.50%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.