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Converge Technology Solutions Receives “Buy” Rating from Analysts
Converge Technology Solutions Corp. (TSE:CTS) has been given a consensus rating of “Buy” by fourteen analysts covering the firm, according to Marketbeat. Six of these analysts have rated the stock as a buy. The average 12-month target price among brokerages that have issued ratings on the stock is C$8.48.
Several brokerages have recently commented on CTS. Raymond James lowered their price target on Converge Technology Solutions from C$8.50 to C$7.00 and gave the company an “outperform” rating in their report on February 15th. Berenberg Bank also reduced their price target on the stock from C$14.00 to C$9.50 in a report on December 2nd.
Converge Technology Solutions Price Performance
Shares of TSE CTS opened at C$4.07 on Friday, with a 1-year low of C$3.60 and a 1-year high of C$11.04. Converge Technology Solutions has a 50-day moving average of C$5.09 and a 200-day moving average of C$4.77. The company has a debt-to-equity ratio of 63.41, a current ratio of 0.84, and a quick ratio of 0.68. The company has a market capitalization of C$856.00 million, a price-to-earnings ratio of 25.44, a PEG ratio of 0.14, and a beta of 1.99.
Insider Buying and Selling at Converge Technology Solutions
A senior officer at Converge Technology Solutions, Greg Berard, acquired 9,308 shares of the business’s stock in a transaction on December 30th, at an average price of C$4.60 per share, for a total transaction of C$42,816.80. Following the completion of the purchase, Berard owns 148,776 shares of the company’s stock, valued at approximately C$684,369.60. Insiders currently own 4.88% of the stock.
About Converge Technology Solutions
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions 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.
MarketBeat’s top-rated analysts have identified five stocks that they believe are a better investment than Converge Technology Solutions. Although the stock has a “Moderate Buy” rating, these top-rated analysts recommend exploring other options.
