Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Acquires C$13,218.65 in Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Cory Reid acquired 2,315 shares of Converge Technology Solutions stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of C$5.71 per share, for a total transaction of C$13,218.65.

Converge Technology Solutions Stock Up 0.2 %

Shares of TSE:CTS opened at C$5.77 on Thursday. The business’s 50 day moving average is C$4.89 and its 200 day moving average is C$3.96. Converge Technology Solutions Corp. has a 12-month low of C$2.24 and a 12-month high of C$6.06. The stock has a market cap of C$1.17 billion, a price-to-earnings ratio of -577.00, a PEG ratio of 0.14 and a beta of 1.95. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 71.05.

Converge Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.69%. Converge Technology Solutions’s payout ratio is -400.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTS shares. Echelon Wealth Partners upped their target price on Converge Technology Solutions from C$5.80 to C$6.25 and gave the company a “sector perform” rating in a research report on Thursday, March 7th. CIBC lifted their price objective on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Scotiabank increased their target price on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a research note on Thursday, March 14th. Eight Capital lifted their price target on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, TD Securities increased their price objective on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the stock a “hold” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Converge Technology Solutions presently has an average rating of “Moderate Buy” and a consensus target price of C$6.47.

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, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.