Shares of Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) shot up 0.6% during trading on Monday . The company traded as high as C$3.47 and last traded at C$3.39. 425,592 shares were traded during trading, a decline of 22% from the average session volume of 543,752 shares. The stock had previously closed at C$3.37.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on CTS shares. TD Securities dropped their price target on Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. CIBC reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Cormark downgraded shares of Converge Technology Solutions from a "moderate buy" rating to a "hold" rating in a research report on Friday, October 25th. Raymond James decreased their price objective on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Finally, National Bank Financial downgraded shares of Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$5.86.
Check Out Our Latest Research Report on CTS
Converge Technology Solutions Stock Up 0.9 %
The company has a market capitalization of C$667.58 million, a PE ratio of -4.28, a P/E/G ratio of 0.14 and a beta of 1.81. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The stock's fifty day moving average is C$3.61 and its two-hundred day moving average is C$4.14.
Converge Technology Solutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th will be issued a dividend of $0.015 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.75%. Converge Technology Solutions's dividend payout ratio is currently -7.50%.
Converge Technology Solutions Company Profile
(
Get Free Report)
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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