Converge Technology Solutions (TSE:CTS) Given a C$4.00 Price Target by Stifel Nicolaus Analysts

Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions (TSE:CTS) in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently issued reports on CTS. Raymond James decreased their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. TD Securities decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday, November 13th. CIBC dropped their target price on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Canaccord Genuity Group decreased their price target on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$5.77.

Converge Technology Solutions Stock Performance

CTS opened at C$3.55 on Thursday. The firm has a 50 day moving average of C$3.41 and a two-hundred day moving average of C$3.95. The firm has a market capitalization of C$692.96 million, a PE ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. 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 has a 12-month low of C$2.90 and a 12-month high of C$6.06.

Converge Technology Solutions Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio is presently -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.