Converge Technology Solutions Corp. (CTS) to Issue Quarterly Dividend of $0.02 on December 28th

Converge Technology Solutions Corp. (TSE:CTS) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Shareholders of record on Tuesday, December 10th will be paid a dividend of 0.015 per share on Saturday, December 28th. This represents a $0.06 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, December 10th.

Converge Technology Solutions Stock Down 2.9 %

Shares of CTS stock traded down C$0.11 during trading on Wednesday, reaching C$3.63. The company’s stock had a trading volume of 1,008,131 shares, compared to its average volume of 543,009. The business has a fifty day moving average price of C$4.12 and a 200-day moving average price of C$4.46. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08. The company has a market cap of C$708.58 million, a price-to-earnings ratio of -4.68, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06.

Wall Street Analysts Forecast Growth

CTS has been the topic of several research reports. 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. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Ventum Financial reduced their target price on shares of Converge Technology Solutions from C$6.20 to C$5.20 in a research report on Wednesday. National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, CIBC reduced their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.86.

Insider Activity

In other news, Senior Officer Greg Berard acquired 10,105 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$4.42 per share, with a total value of C$44,684.31. 5.97% of the stock is currently owned by insiders.

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.