Converge Technology Solutions (TSE:CTS) Upgraded to “Moderate Buy” at Cormark

Cormark upgraded shares of Converge Technology Solutions (TSE:CTS) from a hold rating to a moderate buy rating in a report issued on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Ventum Financial raised their price target on Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Canaccord Genuity Group cut their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, CIBC lowered their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Five 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. Based on data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.93.

Converge Technology Solutions Price Performance

TSE CTS opened at C$3.55 on Monday. The company has a market cap of C$692.96 million, a P/E ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a fifty day simple moving average of C$3.40 and a 200 day simple moving average of C$3.96.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) 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.