Converge Technology Solutions (TSE:CTS) Price Target Lowered to C$4.50 at TD Securities

Converge Technology Solutions (TSE:CTS) had its target price reduced by TD Securities from C$5.00 to C$4.50 in a report published on Wednesday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. CIBC lowered their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Raymond James cut their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Stock Performance

TSE:CTS opened at C$3.55 on Wednesday. The firm has a 50-day moving average of C$4.07 and a two-hundred day moving average of C$4.44. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The stock has a market cap of C$692.96 million, a P/E ratio of -4.44, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1-year low of C$2.90 and a 1-year high of C$6.06.

Converge Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -7.50%.

Insider Buying and Selling

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

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.