Converge Technology Solutions (TSE:CTS – Free Report) had its price objective reduced by Raymond James from C$6.50 to C$4.50 in a research report sent to investors on Friday morning, BayStreet.CA reports.
Other equities analysts have also recently issued research reports about the stock. Cormark cut their target price on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a research report on Friday, August 9th. CIBC cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Friday, August 9th. Finally, TD Securities raised shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and cut their price objective for the company from C$6.00 to C$5.50 in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$6.03.
View Our Latest Stock Report on Converge Technology Solutions
Converge Technology Solutions Stock Down 1.3 %
Converge Technology Solutions (TSE:CTS – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.07. The firm had revenue of C$651.85 million during the quarter, compared to analysts’ expectations of C$645.18 million. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. As a group, equities research analysts predict that Converge Technology Solutions will post 0.6884058 earnings per share for the current year.
Converge Technology Solutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were issued a $0.015 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.90%. Converge Technology Solutions’s payout ratio is -7.50%.
Insider Activity at Converge Technology Solutions
In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 10,105 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is owned by insiders.
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.
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