Converge Technology Solutions Corp. Announces Quarterly Dividend of $0.02 (TSE:CTS)

Converge Technology Solutions Corp. (TSE:CTS) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Stockholders of record on Tuesday, December 10th will be paid a dividend of 0.015 per share on Saturday, December 28th. This represents a $0.06 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, December 10th.

Converge Technology Solutions Stock Down 2.9 %

Shares of TSE CTS traded down C$0.11 during midday trading on Wednesday, reaching C$3.63. 1,008,131 shares of the company’s stock were exchanged, compared to its average volume of 543,009. The stock has a market capitalization of C$708.58 million, a PE ratio of -4.68, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06. 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 business’s fifty day moving average price is C$4.12 and its two-hundred day moving average price is C$4.46.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have recently weighed in on CTS. CIBC dropped their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. National Bankshares lowered Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. National Bank Financial lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Finally, Cormark downgraded shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Converge Technology Solutions has an average rating of “Moderate Buy” and an average target price of C$5.86.

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.