Converge Technology Solutions (TSE:CTS) Given a C$4.00 Price Target at Stifel Nicolaus

Stifel Nicolaus set a C$4.00 price objective on Converge Technology Solutions (TSE:CTS) in a research report sent to investors on Thursday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

CTS has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. CIBC dropped their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Raymond James decreased their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. National Bankshares cut Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$6.00 to C$4.50 in a report on Friday, October 25th. Finally, Scotiabank downgraded Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.77.

Converge Technology Solutions Stock Down 3.8 %

TSE:CTS opened at C$3.55 on Thursday. The stock has a fifty day simple moving average of C$3.41 and a 200-day simple moving average of C$3.95. 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 company has a market cap of C$692.96 million, a price-to-earnings ratio of -4.44, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a twelve month low of C$2.90 and a twelve month high of C$6.06.

Converge Technology Solutions Dividend Announcement

The firm also recently disclosed 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 was Tuesday, December 10th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.69%. Converge Technology Solutions’s payout ratio is -7.50%.

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.