Brokerages Set Converge Technology Solutions Corp. (TSE:CTS) PT at C$6.43

Converge Technology Solutions Corp. (TSE:CTS) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$6.43.

Several equities research analysts recently commented on the company. Cormark dropped their target price on Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. CIBC dropped their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Friday, August 9th. National Bankshares raised their target price on Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Ventum Cap Mkts upgraded Converge Technology Solutions to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, TD Securities upgraded Converge Technology Solutions from a “hold” rating to a “buy” rating and dropped their target price for the company from C$6.00 to C$5.50 in a report on Friday, August 9th.

Insider Transactions at Converge Technology Solutions

In other news, Senior Officer Avjit Kamboj sold 30,600 shares of Converge Technology Solutions 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. In other news, Senior Officer Avjit Kamboj sold 30,600 shares of Converge Technology Solutions 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 bought 8,197 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was purchased at an average price of C$4.68 per share, with a total value of C$38,361.96. Insiders own 5.44% of the company’s stock.

Converge Technology Solutions Stock Performance

Shares of 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 PEG 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 one year low of C$2.24 and a one year high of C$6.06. The business’s 50-day simple moving average is C$4.32 and its 200 day simple moving average is C$4.91.

Converge Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.06 annualized dividend and a dividend yield of 1.29%. Converge Technology Solutions’s payout ratio is -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.