Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00

Converge Technology Solutions (TSE:CTS) had its price objective raised by Ventum Financial from C$5.20 to C$6.00 in a research report released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on CTS. TD Securities decreased their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Cormark downgraded Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Converge Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of C$5.93.

Converge Technology Solutions Trading Up 9.1 %

Shares of CTS opened at C$3.71 on Friday. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06. The stock has a market cap of C$724.19 million, a PE ratio of -4.64, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The business’s 50-day moving average price is C$3.32 and its 200-day moving average price is C$4.00.

Converge Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were paid 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 1.62%. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -7.50%.

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.