Stifel Nicolaus Analysts Give Converge Technology Solutions (TSE:CTS) a C$4.00 Price Target

Stifel Nicolaus set a C$4.00 price target on Converge Technology Solutions (TSE:CTS) in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the company. 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. National Bank Financial cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Canaccord Genuity Group dropped their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. TD Securities dropped their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Finally, Ventum Financial lifted their price objective on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$5.77.

Converge Technology Solutions Stock Down 1.7 %

CTS stock opened at C$3.49 on Thursday. The company has a market cap of C$681.25 million, a price-to-earnings ratio of -4.36, a P/E/G ratio of 0.14 and a beta of 1.81. 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 has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The business’s 50-day moving average is C$3.42 and its two-hundred day moving average is C$3.95.

Converge Technology Solutions Dividend Announcement

The company also recently announced 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. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s payout ratio is currently -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.