Converge Technology Solutions (TSE:CTS) Price Target Lowered to C$140.00 at Jefferies Financial Group

Converge Technology Solutions (TSE:CTS) had its price target cut by Jefferies Financial Group from C$145.00 to C$140.00 in a report released on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research firms have also issued reports on CTS. Desjardins lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and upped their price target for the company from C$5.00 to C$5.50 in a research report on Friday. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Canaccord Genuity Group lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 10th. Scotiabank upped their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Friday, February 7th. Finally, Ventum Financial lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price target for the company from C$6.00 to C$5.50 in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$28.83.

Converge Technology Solutions Price Performance

TSE:CTS opened at C$5.44 on Friday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The stock has a 50 day moving average of C$4.32 and a two-hundred day moving average of C$4.05. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. The firm has a market cap of C$1.03 billion, a P/E ratio of -6.52, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were given a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 annualized dividend and a yield of 1.10%. Converge Technology Solutions’s payout ratio is -7.20%.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.