Converge Technology Solutions Corp. (TSE:CTS – Get Free Report) Senior Officer Avjit Kamboj sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$4.62, for a total value of C$115,500.00.
Converge Technology Solutions Trading Up 0.5 %
CTS traded up C$0.02 during trading on Monday, hitting C$4.42. 221,259 shares of the stock were exchanged, compared to its average volume of 520,810. Converge Technology Solutions Corp. has a 1 year low of C$2.24 and a 1 year high of C$6.06. The firm has a market cap of C$883.43 million, a price-to-earnings ratio of -440.00, a P/E/G ratio of 0.14 and a beta of 1.93. The firm has a 50 day simple moving average of C$5.13 and a 200 day simple moving average of C$4.87. The company has a debt-to-equity ratio of 58.49, a quick ratio of 0.68 and a current ratio of 0.93.
Converge Technology Solutions (TSE:CTS – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, meeting the consensus estimate of C$0.11. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%. The firm had revenue of C$628.77 million during the quarter, compared to the consensus estimate of C$661.10 million. As a group, equities analysts expect that Converge Technology Solutions Corp. will post 0.5411111 EPS for the current year.
Converge Technology Solutions Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.015 per share. The ex-dividend date was Wednesday, May 22nd. This is an increase from Converge Technology Solutions’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.36%. Converge Technology Solutions’s dividend payout ratio (DPR) is currently -600.00%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on CTS shares. CIBC raised their target price on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Desjardins raised their price objective on shares of Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Raymond James upped their target price on Converge Technology Solutions from C$5.50 to C$6.50 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Scotiabank raised their price target on Converge Technology Solutions from C$7.00 to C$8.00 in a research note on Thursday, March 14th. Finally, Cormark cut their price objective on Converge Technology Solutions from C$7.00 to C$6.50 in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$6.63.
Get Our Latest Stock Report on Converge Technology Solutions
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.
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