Ventum Financial Lowers Converge Technology Solutions (TSE:CTS) Price Target to C$5.20

Converge Technology Solutions (TSE:CTS) had its target price cut by stock analysts at Ventum Financial from C$6.20 to C$5.20 in a report released on Wednesday,BayStreet.CA reports. Ventum Financial’s price objective suggests a potential upside of 44.44% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. TD Securities lowered their price target on Converge Technology Solutions from C$5.00 to C$4.50 in a report on Wednesday. National Bankshares lowered Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Raymond James lowered their price target on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. CIBC cut their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Finally, Canaccord Genuity Group reduced their target price on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Converge Technology Solutions Stock Performance

Shares of CTS opened at C$3.60 on Wednesday. Converge Technology Solutions has a 12 month low of C$2.90 and a 12 month high of C$6.06. The company’s fifty day moving average is C$4.10 and its 200-day moving average is C$4.45. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The firm has a market cap of C$702.72 million, a price-to-earnings ratio of -4.58, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Insider Activity

In related news, Senior Officer Greg Berard acquired 10,105 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$4.42 per share, for a total transaction of C$44,684.31. 5.97% of the stock is currently owned by company insiders.

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.