Converge Technology Solutions (TSE:CTS) Price Target Cut to C$5.20 by Analysts at Ventum Financial

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

CTS has been the topic of several other reports. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. National Bank Financial lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James reduced their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. CIBC dropped their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Finally, TD Securities cut their price target on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$5.86.

Converge Technology Solutions Trading Down 2.9 %

TSE CTS opened at C$3.63 on Wednesday. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. 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 firm has a market cap of C$708.58 million, a P/E ratio of -4.68, a P/E/G ratio of 0.14 and a beta of 1.81. The stock’s 50-day moving average is C$4.12 and its 200-day moving average is C$4.46.

Converge Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Investors of record on Tuesday, December 10th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.65%. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.

Insiders Place Their Bets

In other news, Senior Officer Greg Berard acquired 10,105 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, with a total value 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.