Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is C$5.86.

CTS has been the topic of several research reports. Ventum Financial lowered their price target on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research report on Wednesday, November 13th. TD Securities lowered their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. Raymond James reduced their price objective on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. CIBC dropped their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Finally, National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$6.00 to C$4.50 in a report on Friday, October 25th.

Converge Technology Solutions Trading Up 1.8 %

Shares of CTS opened at C$3.42 on Monday. The firm’s 50-day moving average is C$3.97 and its two-hundred day moving average is C$4.35. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month 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 firm has a market capitalization of C$667.58 million, a P/E ratio of -4.28, a PEG ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be given a $0.015 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.75%. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

Insider Activity at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 10,105 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is owned by 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.