Converge Technology Solutions (TSE:CTS) Stock Rating Upgraded by Stifel Canada

Stifel Canada upgraded shares of Converge Technology Solutions (TSE:CTS - Free Report) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on CTS. Canaccord Genuity Group reduced their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Cormark raised Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research note on Monday, January 13th. Ventum Financial increased their price target on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. National Bank Financial cut Converge Technology Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, TD Securities lowered their target price on Converge Technology Solutions from C$5.00 to C$4.50 in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Converge Technology Solutions currently has a consensus rating of "Moderate Buy" and an average target price of C$5.77.

Converge Technology Solutions Trading Down 1.7 %

CTS traded down C$0.06 during trading on Wednesday, reaching C$3.49. 424,698 shares of the company's stock were exchanged, compared to its average volume of 495,188. The company's fifty day moving average price is C$3.42 and its 200-day moving average price is C$3.95. The firm has a market capitalization of C$681.25 million, a PE ratio of -4.36, a P/E/G ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. 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 company also recently disclosed a quarterly dividend, which was paid on Saturday, December 28th. Stockholders of record on Saturday, December 28th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, December 10th. Converge Technology Solutions's dividend payout ratio is currently -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.