Avjit Kamboj Sells 30,600 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Avjit Kamboj sold 30,600 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$4.41, for a total value of C$134,946.00.

Avjit Kamboj also recently made the following trade(s):

• On Thursday, June 20th, Avjit Kamboj sold 25,000 shares of Converge Technology Solutions stock. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00.

Converge Technology Solutions Stock Performance

Converge Technology Solutions stock opened at C$4.33 on Thursday. Converge Technology Solutions Corp. has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The firm’s fifty day moving average price is C$5.09 and its 200-day moving average price is C$4.87. The stock has a market cap of C$865.44 million, a P/E ratio of -433.00, a price-to-earnings-growth ratio of 0.14 and a beta of 1.93. The company has a debt-to-equity ratio of 58.49, a quick ratio of 0.68 and a current ratio of 0.93.

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

Converge Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.015 dividend. This is an increase from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.39%. Converge Technology Solutions’s payout ratio is presently -600.00%.

Analyst Ratings Changes

Several equities analysts recently commented on CTS shares. Cormark reduced their price objective on shares of Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. Eight Capital boosted their price target on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. National Bankshares upped their price target on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. TD Securities lifted their price objective on Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research note on Thursday, March 7th. Finally, Echelon Wealth Partners upped their target price on Converge Technology Solutions from C$5.80 to C$6.25 and gave the stock a “sector perform” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.63.

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.