Converge Technology Solutions (TSE:CTS) Upgraded by Cormark to “Moderate Buy” Rating

Cormark upgraded shares of Converge Technology Solutions (TSE:CTS) from a hold rating to a moderate buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

CTS has been the subject of several other reports. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James lowered 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. CIBC reduced their target price on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. National Bankshares lowered Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Finally, Canaccord Genuity Group decreased their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Five 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 company. According to data from MarketBeat.com, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.93.

Converge Technology Solutions Trading Down 2.7 %

TSE:CTS opened at C$3.55 on Monday. The stock has a fifty day simple moving average of C$3.40 and a 200 day simple moving average of C$3.96. The firm has a market capitalization of C$692.96 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, December 10th. 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.