Converge Technology Solutions Corp. (TSE:CTS – Get Free Report)’s stock price traded down 0.9% during trading on Wednesday . The stock traded as low as C$4.51 and last traded at C$4.53. 156,423 shares changed hands during trading, a decline of 68% from the average session volume of 482,510 shares. The stock had previously closed at C$4.57.
Wall Street Analyst Weigh In
CTS has been the subject of a number of research analyst reports. Ventum Cap Mkts upgraded Converge Technology Solutions to a “strong-buy” rating in a research report on Tuesday, June 25th. CIBC dropped their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a report on Friday, August 9th. Cormark reduced their price target on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a report on Friday, August 9th. Finally, TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and lowered their price target for the company from C$6.00 to C$5.50 in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$6.43.
Converge Technology Solutions Price Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.07. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. The business had revenue of C$651.85 million during the quarter, compared to the consensus estimate of C$645.18 million. Sell-side analysts expect that Converge Technology Solutions Corp. will post 0.6347222 earnings per share for the current fiscal year.
Converge Technology Solutions Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, September 10th were issued a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.06 annualized dividend and a yield of 1.32%. Converge Technology Solutions’s dividend payout ratio is presently -7.50%.
Insider Transactions at Converge Technology Solutions
In other news, Senior Officer Greg Berard bought 10,105 shares of Converge Technology Solutions stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.46% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Converge Technology Solutions
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- 3 Small Caps With Big Return Potential
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- Best Aerospace Stocks Investing
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
Receive News & Ratings for Converge Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Converge Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.