Converge Technology Solutions (TSE:CTS) Upgraded at Stifel Canada

Stifel Canada upgraded shares of Converge Technology Solutions (TSE:CTS) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on CTS. Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Stifel Nicolaus set a C$4.00 target price on Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday. Canaccord Genuity Group decreased their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Raymond James lowered their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Finally, Ventum Financial raised their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$5.77.

Converge Technology Solutions Stock Down 1.7 %

TSE CTS opened at C$3.49 on Wednesday. The stock has a 50 day moving average price of C$3.42 and a 200-day moving average price of C$3.95. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The company has a market capitalization of C$681.25 million, a P/E ratio of -4.36, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00.

Converge Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were given a $0.015 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.06 annualized dividend and a dividend yield of 1.72%. Converge Technology Solutions’s payout ratio is presently -7.50%.

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