Brokerages Set Converge Technology Solutions Corp. (TSE:CTS) Target Price at C$5.86

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$5.86.

A number of equities analysts have recently commented on the company. Raymond James cut their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. TD Securities dropped 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. Ventum Financial cut their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research note on Wednesday, November 13th. Canaccord Genuity Group decreased their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Finally, Cormark lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th.

Insider Buying and Selling at Converge Technology Solutions

In related news, Senior Officer Greg Berard purchased 10,105 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased 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 insiders.

Converge Technology Solutions Trading Up 1.8 %

CTS stock opened at C$3.36 on Monday. The business has a fifty day simple moving average of C$3.87 and a 200-day simple moving average of C$4.30. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Saturday, December 28th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is currently -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.