Greg Berard Buys 10,105 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Greg Berard acquired 10,105 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$4.42 per share, with a total value of C$44,684.31.

Converge Technology Solutions Price Performance

TSE CTS opened at C$4.32 on Friday. The firm’s fifty day simple moving average is C$4.33 and its two-hundred day simple moving average is C$4.90. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. Converge Technology Solutions Corp. has a 12-month low of C$2.24 and a 12-month high of C$6.06. The firm has a market capitalization of C$843.26 million, a P/E ratio of -5.40, a P/E/G ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions (TSE:CTS) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. The business had revenue of C$651.85 million for the quarter, compared to analyst estimates of C$645.18 million. Analysts forecast that Converge Technology Solutions Corp. will post 0.5850254 EPS for the current fiscal year.

Converge Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.39%. Converge Technology Solutions’s payout ratio is -7.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Cormark reduced their price target on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. CIBC reduced their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Friday, August 9th. National Bankshares increased their target price on Converge Technology Solutions from C$6.00 to C$7.00 in a research report on Friday, May 10th. TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and reduced their price target for the stock from C$6.00 to C$5.50 in a research report on Friday, August 9th. Finally, Ventum Cap Mkts raised Converge Technology Solutions to a “strong-buy” rating in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$6.43.

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.