Converge Technology Solutions (TSE:CTS) Given New C$6.00 Price Target at Ventum Financial

Converge Technology Solutions (TSE:CTS) had its target price boosted by Ventum Financial from C$5.20 to C$6.00 in a research report report published on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on CTS. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Cormark lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, TD Securities lowered their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Converge Technology Solutions has a consensus rating of “Moderate Buy” and an average target price of C$5.93.

Converge Technology Solutions Stock Up 9.1 %

CTS stock opened at C$3.71 on Friday. The company has a market cap of C$724.19 million, a PE ratio of -4.64, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The business has a 50-day simple moving average of C$3.32 and a 200 day simple moving average of C$4.01.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were given a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.62%. Converge Technology Solutions’s dividend payout ratio is presently -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.