Shares of Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$6.43.
CTS has been the subject of a number of research analyst reports. CIBC reduced their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Friday, August 9th. Cormark reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. Ventum Cap Mkts upgraded Converge Technology Solutions to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, TD Securities raised Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their target price for the company from C$6.00 to C$5.50 in a research report on Friday, August 9th.
View Our Latest Stock Report on CTS
Converge Technology Solutions Stock Down 1.4 %
Converge Technology Solutions (TSE:CTS – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.07. The company had revenue of C$651.85 million during the quarter, compared to analysts’ expectations of C$645.18 million. Converge Technology Solutions had a negative return on equity of 33.46% and a negative net margin of 6.10%. Analysts anticipate that Converge Technology Solutions will post 0.6346154 EPS for the current fiscal year.
Converge Technology Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.015 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 dividend on an annualized basis and a yield of 1.40%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.
Insider Buying and Selling at Converge Technology Solutions
In other news, Senior Officer Avjit Kamboj sold 30,600 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$4.41, for a total transaction of C$134,946.00. In related news, Senior Officer Avjit Kamboj sold 30,600 shares of the business’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. Also, Senior Officer Greg Berard acquired 10,105 shares of Converge Technology Solutions stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of C$4.42 per share, for a total transaction of C$44,684.31. Insiders own 5.45% 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.
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