Greg Berard Acquires 9,308 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock

Converge Technology Solutions Corp. (TSE:CTSGet Rating) Senior Officer Greg Berard bought 9,308 shares of the company’s stock in a transaction that occurred on Friday, December 30th. The shares were bought at an average price of C$4.60 per share, with a total value of C$42,816.80. Following the completion of the acquisition, the insider now directly owns 148,776 shares in the company, valued at C$684,369.60.

Converge Technology Solutions Stock Down 1.5 %

CTS stock opened at C$5.13 on Wednesday. Converge Technology Solutions Corp. has a twelve month low of C$3.60 and a twelve month high of C$11.59. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 63.41. The firm has a market cap of C$1.08 billion and a PE ratio of 32.06. The business has a 50 day moving average of C$4.70 and a 200 day moving average of C$5.09.

Converge Technology Solutions (TSE:CTSGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported C$0.10 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.03. The company had revenue of C$603.21 million for the quarter, compared to the consensus estimate of C$614.67 million. On average, research analysts forecast that Converge Technology Solutions Corp. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Cormark dropped their price objective on Converge Technology Solutions from C$10.00 to C$8.00 in a report on Thursday, November 10th. Scotiabank dropped their price objective on Converge Technology Solutions from C$11.00 to C$10.00 in a report on Friday, November 11th. Canaccord Genuity Group dropped their price objective on Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday, November 10th. TD Securities upgraded Converge Technology Solutions from a “hold” rating to a “buy” rating and dropped their price objective for the stock from C$8.50 to C$6.50 in a report on Thursday, November 10th. Finally, National Bankshares decreased their target price on Converge Technology Solutions from C$12.00 to C$10.00 and set an “outperform” rating for the company in a research report on Tuesday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.31.

Converge Technology Solutions Company Profile

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Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions in the United States and Canada. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.

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