National Bank Financial lowered shares of Converge Technology Solutions (TSE:CTS – Free Report) from a strong-buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.
A number of other equities analysts also recently commented on CTS. Raymond James reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday. Canaccord Genuity Group decreased their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday. Cormark reduced their price objective on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. CIBC lowered their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday. Finally, TD Securities raised shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and reduced their price target for the company from C$6.00 to C$5.50 in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Converge Technology Solutions presently has an average rating of “Moderate Buy” and a consensus price target of C$6.03.
View Our Latest Stock Analysis on Converge Technology Solutions
Converge Technology Solutions Price Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. The company had revenue of C$651.85 million during the quarter, compared to the consensus estimate of C$645.18 million. On average, equities analysts anticipate that Converge Technology Solutions will post 0.6884058 EPS for the current fiscal year.
Converge Technology Solutions Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, August 27th. Converge Technology Solutions’s dividend payout ratio is currently -7.50%.
Insider Activity at Converge Technology Solutions
In other news, Senior Officer Greg Berard purchased 10,105 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by company insiders.
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.
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