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

Converge Technology Solutions Corp. (TSE:CTS) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$6.43.

Several research firms have weighed in on CTS. Ventum Cap Mkts raised Converge Technology Solutions to a “strong-buy” rating in a research report on Tuesday, June 25th. National Bankshares lifted their price objective on Converge Technology Solutions from C$6.00 to C$7.00 in a research note on Friday, May 10th. CIBC decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Friday, August 9th. TD Securities upgraded Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their price objective for the company from C$6.00 to C$5.50 in a research note on Friday, August 9th. Finally, Cormark decreased their price objective on Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th.

Converge Technology Solutions Stock Performance

TSE CTS opened at C$4.66 on Friday. The company has a market cap of C$909.63 million, a P/E ratio of -5.83, 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 current ratio of 1.00 and a quick ratio of 0.68. The stock has a 50-day moving average of C$4.32 and a two-hundred day moving average of C$4.91. Converge Technology Solutions has a 1-year low of C$2.24 and a 1-year high of C$6.06.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, August 27th. Converge Technology Solutions’s dividend payout ratio (DPR) is -7.50%.

Insider Activity at Converge Technology Solutions

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 8,197 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average cost of C$4.68 per share, with a total value of C$38,361.96. In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$4.41, for a total value of C$134,946.00. Also, Senior Officer Greg Berard acquired 8,197 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average cost of C$4.68 per share, with a total value of C$38,361.96. 5.44% of the stock is currently owned by corporate insiders.

Converge Technology Solutions Company Profile

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.