Converge Technology Solutions Corp. (TSE:CTS) Receives C$5.86 Average Target Price from Brokerages

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$5.86.

A number of equities analysts recently commented on the stock. Cormark cut shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$6.00 to C$4.50 in a research report on Friday, October 25th. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. CIBC decreased their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Finally, Canaccord Genuity Group decreased their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th.

Insider Activity

In other Converge Technology Solutions news, Senior Officer Greg Berard acquired 10,105 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company’s stock.

Converge Technology Solutions Price Performance

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

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, December 10th. 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.