Converge Technology Solutions Corp. Plans Quarterly Dividend of $0.02 (TSE:CTS)

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 dividend yield of 1.65%. The ex-dividend date is Tuesday, December 10th.

Converge Technology Solutions Price Performance

Shares of TSE CTS traded down C$0.11 during trading on Wednesday, reaching C$3.63. The company had a trading volume of 818,641 shares, compared to its average volume of 542,148. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a market cap of C$708.58 million, a PE ratio of -4.68, a PEG ratio of 0.14 and a beta of 1.81. The business’s 50 day moving average price is C$4.12 and its 200-day moving average price is C$4.46. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06.

Analyst Upgrades and Downgrades

CTS has been the subject of several recent analyst reports. CIBC lowered their target price on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from C$6.00 to C$4.50 in a research note on Friday, October 25th. Raymond James lowered their target price on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research note on Friday, October 25th. Canaccord Genuity Group reduced their price target on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, National Bank Financial cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Converge Technology Solutions presently has an average rating of “Moderate Buy” and an average target price of C$5.86.

Insider Activity

In other Converge Technology Solutions news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$4.42 per share, with a total value of C$44,684.31. Insiders own 5.97% of the company’s stock.

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.