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

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

Several brokerages have recently issued reports on CTS. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$6.00 to C$4.50 in a research note on Friday, October 25th. Cormark cut shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. TD Securities decreased their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. Raymond James reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Finally, CIBC reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 10,105 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 currently owned by corporate insiders.

Converge Technology Solutions Trading Down 0.3 %

Shares of TSE CTS opened at C$3.27 on Monday. The firm’s 50 day moving average price is C$3.91 and its 200-day moving average price is C$4.31. The company has a market cap of C$638.30 million, a PE ratio of -4.09, a P/E/G ratio of 0.14 and a beta of 1.81. 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 debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.83%. Converge Technology Solutions’s payout ratio is -7.50%.

About Converge Technology Solutions

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.