Converge Technology Solutions (TSE:CTS) Price Target Cut to C$7.00

Converge Technology Solutions (TSE:CTS – Get Rating) had its target price decreased by investment analysts at National Bankshares from C$8.00 to C$7.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 71.99% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Scotiabank dropped their target price on Converge Technology Solutions from C$8.00 to C$7.00 in a report on Thursday. Raymond James dropped their target price on Converge Technology Solutions from C$8.50 to C$7.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Canaccord Genuity Group dropped their target price on Converge Technology Solutions from C$10.50 to C$8.50 in a report on Wednesday, February 15th. Berenberg Bank dropped their price target on Converge Technology Solutions from C$14.00 to C$9.50 in a report on Friday, December 2nd. Finally, CIBC dropped their price target on Converge Technology Solutions from C$7.00 to C$5.25 in a report on Monday, December 12th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Converge Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of C$8.48.

Converge Technology Solutions Stock Down 1.0 %

CTS stock opened at C$4.07 on Friday. Converge Technology Solutions has a twelve month low of C$3.60 and a twelve month high of C$11.04. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 63.41. The stock’s 50 day moving average is C$5.09 and its 200-day moving average is C$4.77. The firm has a market capitalization of C$856.00 million, a PE ratio of 25.44, a P/E/G ratio of 0.14 and a beta of 1.99.

Insider Buying and Selling at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 9,308 shares of the stock in a transaction on Friday, December 30th. The shares were purchased at an average cost of C$4.60 per share, for a total transaction of C$42,816.80. Following the completion of the purchase, the insider now directly owns 148,776 shares in the company, valued at approximately C$684,369.60. Corporate insiders own 4.88% of the company’s stock.

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.