Converge Technology Solutions Corp. (TSE:CTS) Senior Officer Greg Berard Acquires 9,308 Shares

Converge Technology Solutions Corp. (TSE:CTS – Get Rating) Senior Officer Greg Berard bought 9,308 shares of the stock in a transaction that occurred on Friday, December 30th. The shares were bought at an average price of C$4.60 per share, for a total transaction of C$42,816.80. Following the completion of the transaction, the insider now directly owns 148,776 shares of the company’s stock, valued at approximately C$684,369.60.

Converge Technology Solutions Trading Down 1.5 %

Shares of CTS stock opened at C$5.13 on Wednesday. Converge Technology Solutions Corp. has a 12-month low of C$3.60 and a 12-month high of C$11.59. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 63.41. The stock’s 50-day moving average price is C$4.70 and its 200-day moving average price is C$5.09. The stock has a market capitalization of C$1.08 billion and a price-to-earnings ratio of 32.06.

Converge Technology Solutions (TSE:CTS – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported C$0.10 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.03. The company had revenue of C$603.21 million for the quarter, compared to the consensus estimate of C$614.67 million. Equities research analysts predict that Converge Technology Solutions Corp. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. CIBC lowered their price objective on Converge Technology Solutions from C$7.00 to C$5.25 in a research report on Monday, December 12th. Eight Capital lowered their price objective on Converge Technology Solutions from C$11.00 to C$10.00 in a research report on Thursday, November 10th. Cormark lowered their price objective on Converge Technology Solutions from C$10.00 to C$8.00 in a research report on Thursday, November 10th. Canaccord Genuity Group lowered their price objective on Converge Technology Solutions from C$12.00 to C$10.50 in a research report on Thursday, November 10th. Finally, TD Securities upgraded Converge Technology Solutions from a “hold” rating to a “buy” rating and lowered their price objective for the company from C$8.50 to C$6.50 in a research report on Thursday, November 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$9.31.

About Converge Technology Solutions

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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.