Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00

Converge Technology Solutions (TSE:CTS) had its price target upped by Ventum Financial from C$5.20 to C$6.00 in a research report report published on Friday,BayStreet.CA reports. Ventum Financial currently has a buy rating on the stock.

A number of other analysts have also commented on CTS. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bankshares cut 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 research report on Friday, October 25th. TD Securities cut their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Raymond James decreased their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, CIBC cut their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Six equities 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.93.

Converge Technology Solutions Trading Up 9.1 %

CTS opened at C$3.71 on Friday. The firm has a market capitalization of C$724.19 million, a price-to-earnings ratio of -4.64, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The business has a 50 day simple moving average of C$3.32 and a two-hundred day simple moving average of C$4.00. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68.

Converge Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Investors of record on Saturday, December 28th were paid a $0.015 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.62%. Converge Technology Solutions’s payout ratio is currently -7.50%.

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.