Ventum Financial Has Lowered Expectations for Converge Technology Solutions (TSE:CTS) Stock Price

Converge Technology Solutions (TSE:CTSGet Free Report) had its price objective lowered by research analysts at Ventum Financial from C$6.20 to C$5.20 in a note issued to investors on Wednesday,BayStreet.CA reports. Ventum Financial’s price target would suggest a potential upside of 39.04% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group reduced their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Raymond James cut 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. Finally, Cormark cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.86.

Read Our Latest Stock Report on CTS

Converge Technology Solutions Price Performance

Converge Technology Solutions stock remained flat at C$3.74 during mid-day trading on Wednesday. The company had a trading volume of 662,961 shares, compared to its average volume of 541,440. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The firm’s 50-day simple moving average is C$4.12 and its 200-day simple moving average is C$4.46. 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 firm has a market capitalization of C$730.05 million, a PE ratio of -4.68, a PEG ratio of 0.14 and a beta of 1.81.

Insider Buying and Selling at Converge Technology Solutions

In related news, Senior Officer Greg Berard acquired 10,105 shares of Converge Technology Solutions stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Insiders own 5.97% of the company’s stock.

Converge Technology Solutions Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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