Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Sells C$115,500.00 in Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$4.62, for a total value of C$115,500.00.

Converge Technology Solutions Trading Up 0.5 %

TSE:CTS traded up C$0.02 during mid-day trading on Monday, reaching C$4.42. The company’s stock had a trading volume of 221,259 shares, compared to its average volume of 520,810. The company has a debt-to-equity ratio of 58.49, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market cap of C$883.43 million, a P/E ratio of -440.00, a P/E/G ratio of 0.14 and a beta of 1.93. The company’s fifty day simple moving average is C$5.13 and its two-hundred day simple moving average is C$4.87. Converge Technology Solutions Corp. has a twelve month low of C$2.24 and a twelve month high of C$6.06.

Converge Technology Solutions (TSE:CTS) last released its earnings results on Thursday, May 9th. The company reported C$0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.11. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.08%. The business had revenue of C$628.77 million for the quarter, compared to analysts’ expectations of C$661.10 million. On average, equities analysts predict that Converge Technology Solutions Corp. will post 0.5411111 EPS for the current year.

Converge Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.015 per share. The ex-dividend date was Wednesday, May 22nd. This is a boost from Converge Technology Solutions’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 1.36%. Converge Technology Solutions’s payout ratio is currently -600.00%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTS. Cormark cut their price target on Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. Desjardins lifted their target price on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Scotiabank increased their price target on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a research report on Thursday, March 14th. Raymond James lifted their price objective on Converge Technology Solutions from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, Echelon Wealth Partners increased their target price on Converge Technology Solutions from C$5.80 to C$6.25 and gave the company a “sector perform” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$6.63.

Converge Technology Solutions Company Profile

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.