Converge Technology Solutions Corp. (TSE:CTS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Converge Technology Solutions Corp. (TSE:CTS) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$5.86.

Several research firms recently weighed in on CTS. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. TD Securities decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Cormark lowered shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note 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 report on Friday, October 25th. Finally, Ventum Financial lowered their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a report on Wednesday, November 13th.

Converge Technology Solutions Stock Performance

Converge Technology Solutions stock opened at C$3.36 on Monday. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The stock has a market cap of C$655.87 million, a price-to-earnings ratio of -4.20, a PEG ratio of 0.14 and a beta of 1.81. The stock’s 50 day simple moving average is C$3.87 and its two-hundred day simple moving average is C$4.28. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.79%. Converge Technology Solutions’s dividend payout ratio is -7.50%.

Insiders Place Their Bets

In related news, Senior Officer Greg Berard acquired 10,105 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.

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.