Insider Buying: Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Acquires 2,315 Shares of Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Cory Reid acquired 2,315 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average cost of C$5.71 per share, for a total transaction of C$13,218.65.

Converge Technology Solutions Stock Down 0.4 %

Shares of TSE CTS traded down C$0.02 during midday trading on Monday, reaching C$5.64. 249,920 shares of the company’s stock traded hands, compared to its average volume of 468,930. The company has a market cap of C$1.15 billion, a price-to-earnings ratio of -575.00, a P/E/G ratio of 0.14 and a beta of 1.95. Converge Technology Solutions Corp. has a one year low of C$2.24 and a one year high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 71.05. The stock’s 50 day simple moving average is C$4.78 and its 200-day simple moving average is C$3.91.

Converge Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th will be paid a $0.01 dividend. The ex-dividend date is Monday, March 11th. This represents a $0.04 annualized dividend and a yield of 0.71%. Converge Technology Solutions’s dividend payout ratio (DPR) is -400.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTS shares. Raymond James increased their target price on Converge Technology Solutions from C$5.50 to C$6.50 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Desjardins increased their target price on Converge Technology Solutions from C$6.00 to C$7.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Scotiabank raised their price objective on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a report on Thursday, March 14th. CIBC raised their price target on shares of Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Finally, Eight Capital raised their price target on shares of Converge Technology Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$6.47.

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