Converge Technology Solutions (TSE:CTS) Price Target Cut to C$4.50 by Analysts at TD Securities

Converge Technology Solutions (TSE:CTS) had its target price reduced by TD Securities from C$5.00 to C$4.50 in a research report released on Wednesday,BayStreet.CA reports.

A number of other equities research analysts also recently commented on the stock. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. CIBC reduced their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Raymond James dropped their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group lowered their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Stock Down 1.4 %

Shares of Converge Technology Solutions stock opened at C$3.55 on Wednesday. The company has a market cap of C$692.96 million, a P/E ratio of -4.44, a PEG ratio of 0.14 and a beta of 1.81. The firm has a fifty day moving average of C$4.07 and a two-hundred day moving average of C$4.43. 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 has a one year low of C$2.90 and a one year high of C$6.06.

Converge Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a yield of 1.69%. Converge Technology Solutions’s payout ratio is -7.50%.

Insider Transactions at Converge Technology Solutions

In other news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

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.