Converge Technology Solutions (TSE:CTS) Upgraded at Cormark

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

A number of other analysts have also recently commented on CTS. 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. Ventum Financial raised their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James reduced their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$6.00 to C$4.50 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 company. According to data from MarketBeat, Converge Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of C$5.93.

Check Out Our Latest Stock Analysis on CTS

Converge Technology Solutions Price Performance

Shares of TSE:CTS opened at C$3.69 on Monday. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The stock has a market cap of C$720.29 million, a PE ratio of -4.61, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The business’s fifty day moving average price is C$3.40 and its two-hundred day moving average price is C$3.96. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were issued a dividend of $0.015 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.63%. Converge Technology Solutions’s payout ratio is -7.50%.

About Converge Technology Solutions

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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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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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