Ventum Financial Issues Pessimistic Forecast for Converge Technology Solutions (TSE:CTS) Stock Price

Converge Technology Solutions (TSE:CTS) had its target price decreased by Ventum Financial from C$6.20 to C$5.20 in a research report sent to investors on Wednesday,BayStreet.CA reports.

CTS has been the topic of a number of other research reports. Scotiabank cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. TD Securities cut their price target on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Finally, CIBC decreased their price objective on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Price Performance

TSE CTS opened at C$3.55 on Wednesday. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a market capitalization of C$692.96 million, a P/E ratio of -4.44, a P/E/G ratio of 0.14 and a beta of 1.81. The business’s fifty day moving average is C$4.07 and its two-hundred day moving average is C$4.43. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06.

Converge Technology Solutions Announces Dividend

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

Insiders Place Their Bets

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 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.