Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Sells C$115,500.00 in Stock

Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Avjit Kamboj sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$4.62, for a total value of C$115,500.00.

Avjit Kamboj also recently made the following trade(s):

• On Monday, June 24th, Avjit Kamboj sold 30,600 shares of Converge Technology Solutions stock. The shares were sold at an average price of C$4.41, for a total value of C$134,946.00.

Converge Technology Solutions Stock Performance

TSE:CTS opened at C$4.33 on Thursday. The company has a market cap of C$865.44 million, a P/E ratio of -433.00, a P/E/G ratio of 0.14 and a beta of 1.93. The firm’s 50 day moving average is C$5.09 and its two-hundred day moving average is C$4.87. Converge Technology Solutions Corp. has a fifty-two week low of C$2.24 and a fifty-two week high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 58.49.

Converge Technology Solutions (TSE:CTS) last issued its earnings results on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, hitting the consensus estimate of C$0.11. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%. The business had revenue of C$628.77 million for the quarter, compared to analyst estimates of C$661.10 million. Analysts expect that Converge Technology Solutions Corp. will post 0.5411111 EPS for the current year.

Converge Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a $0.015 dividend. This is a positive change from Converge Technology Solutions’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, May 22nd. This represents a $0.06 annualized dividend and a yield of 1.39%. Converge Technology Solutions’s dividend payout ratio (DPR) is presently -600.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CTS shares. TD Securities boosted their target price on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research note on Thursday, March 7th. Raymond James boosted their price objective on shares of Converge Technology Solutions from C$5.50 to C$6.50 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Scotiabank raised their target price on shares of Converge Technology Solutions from C$7.00 to C$8.00 in a research report on Thursday, March 14th. Echelon Wealth Partners boosted their price target on Converge Technology Solutions from C$5.80 to C$6.25 and gave the company a “sector perform” rating in a report on Thursday, March 7th. Finally, Cormark reduced their price target on Converge Technology Solutions from C$7.00 to C$6.50 in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$6.63.

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.