Converge Technology Solutions (TSE:CTS) Given New C$154.00 Price Target at Canaccord Genuity Group

Converge Technology Solutions (TSE:CTS) had its price objective boosted by Canaccord Genuity Group from C$153.00 to C$154.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

CTS has been the topic of a number of other research reports. Stifel Canada upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Wednesday, January 15th. Cormark upgraded Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research report on Monday, January 13th. Stifel Nicolaus set a C$4.00 price target on Converge Technology Solutions and gave the company a “hold” rating in a research report on Thursday, January 16th. TD Securities upgraded Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Desjardins cut Converge Technology Solutions from a “buy” rating to a “tender” rating and boosted their price target for the company from C$5.00 to C$5.50 in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$28.83.

Converge Technology Solutions Stock Down 0.2 %

CTS opened at C$5.44 on Friday. The business’s 50-day simple moving average is C$4.32 and its 200-day simple moving average is C$4.05. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The stock has a market capitalization 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 announced a quarterly dividend, which was paid on Saturday, December 28th. Shareholders of record on Saturday, December 28th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Tuesday, December 10th. 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.