Research Analysts’ Weekly Ratings Changes for Converge Technology Solutions (CTS)

Converge Technology Solutions (TSE: CTS) recently received a number of ratings updates from brokerages and research firms:

• 11/13/2024 – Converge Technology Solutions had its price target lowered by analysts at Ventum Financial from C$6.20 to C$5.20.
• 11/13/2024 – Converge Technology Solutions had its price target lowered by analysts at TD Securities from C$5.00 to C$4.50.
• 10/25/2024 – Converge Technology Solutions was downgraded by analysts at National Bankshares, Inc. from an “outperform” rating to a “sector perform” rating. They now have a C$4.50 price target on the stock, down previously from C$6.00.
• 10/25/2024 – Converge Technology Solutions was downgraded by analysts at Cormark from a “moderate buy” rating to a “hold” rating.
• 10/25/2024 – Converge Technology Solutions had its price target lowered by analysts at Canaccord Genuity Group Inc. from C$6.25 to C$6.00.
• 10/25/2024 – Converge Technology Solutions had its price target lowered by analysts at CIBC from C$5.00 to C$4.00.
• 10/25/2024 – Converge Technology Solutions had its price target lowered by analysts at Raymond James from C$6.50 to C$4.50.
• 10/24/2024 – Converge Technology Solutions was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating.
• 10/24/2024 – Converge Technology Solutions was downgraded by analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating.

Converge Technology Solutions Price Performance

Shares of TSE CTS opened at C$3.63 on Thursday. Converge Technology Solutions Corp. has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The company has a market cap of C$708.58 million, a PE ratio of -4.54, a P/E/G ratio of 0.14 and a beta of 1.81. The business has a 50-day simple moving average of C$4.10 and a two-hundred day simple moving average of C$4.45.

Converge Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

Insiders Place Their Bets

In related news, Senior Officer Greg Berard purchased 10,105 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is owned by insiders.

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.