Converge Technology Solutions Corp. (TSE:CTS – Get Ratings) shares have received a ‘buy’ consensus rating from the 14 brokerage firms that cover the stock, Marketbeat Ratings reports. Five research analysts have given the stock a Buy rating. The average 12-month price target for analysts who published last year’s stock ratings is $9.31 Canadian.
Several brokerage firms have recently published reports on CTS. Scotiabank lowered its price target for Converge Technology Solutions from C$11.00 to C$10.00 in a report on Friday, November 11th. CIBC lowered its target price for Converge Technology Solutions from C$7.00 to C$5.25 in a report on Monday, Dec. 12. Canaccord Genuity Group lowered its price target for Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday, November 10th. Eight Capital lowered its price target for Converge Technology Solutions from C$11.00 to C$10.00 in a report on Thursday, November 10. Finally, National Bankshares lowered its price target for Converge Technology Solutions from C$12.00 to C$10.00, giving it an “outperform” rating in its report on Tuesday, November 1st.
In another news from Converge Technology Solutions, Senior Officer Greg Berard acquired 9,308 shares of the company in a transaction on Friday, December 30th. Shares were purchased at an average of $4.60 Canadian dollars per share for a total of $42,816.80 Canadian dollars. After the transaction, insiders now directly own 148,776 shares of the company, valued at approximately C$684,369.60. In the past 90 days, the insider has purchased 22,462 shares of company stock worth $94,120.
Converge Technology Solutions inventory increased by 3.5%
The TSE CTS opened Friday at C$5.58. The stock has a 50-day moving average of C$4.83 and a 200-day moving average of C$5.01. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt to equity ratio of 63.41. Converge Technology Solutions has a 12-month low of C$3.60 and a 12-month high of C$11.59. The stock has a market capitalization of C$1.17 billion and a PE ratio of 34.88.
Converge Technology Solutions (TSE:CTS – Get Rating) announced its final quarterly results on Tuesday, November 8th. The company reported EPS of C$0.10 for the quarter, beating analyst consensus expectations of C$0.07 by C$0.03. Revenue for the business was C$603.21 million for the quarter, compared with analyst forecasts of C$614.67 million. Research analysts expect Converge Technology Solutions to post 0.55 EPS for the current financial year.
Converge Technology Solutions Company Profile
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for businesses and government agencies in the United States and Canada. Its solution approach provides clients across industries with advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings.
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