According to Bloomberg, all fourteen research analysts covering Converge Technology Solutions INC (TSE:CTS) have given the company a “buy” rating, representing the consensus recommendation for the company’s stock.
Six different people who specialize in stock research have suggested investors buy the stock in question.
The brokerage firms that rated the company over the past year have set the company’s target price for next year at an average of CA$8.48.
This price target applies to the next twelve months.
TSE CTS shares were first offered for trading on Friday at CAD$4.07 per share.
Annual purchase costs for Converge Technology Solutions range from as little as CAD$3.60 to CAD$11.04 depending on buyer preference.
The company’s 50-day moving average price is $5.09 and its 200-day moving average price is $4.77.
The current ratio is 0.84, the quick ratio is 0.68 and the debt to equity ratio is 63.41.
All three ratios are fairly close.
These three ratios are not too different from each other.
The price to earnings ratio for this company is 25.44; the price to growth ratio for this company is 0.14; and the beta value for this company is 1.99.
The company is valued at $856,000.00 million based on its market capitalization.
Recently, several different brokerage firms have raised CTS as a topic of discussion in their meetings.
The price target for Converge Technology Solutions was lowered from $8.50 to $7.00 in a report published by Raymond James on February 15.
Despite this change, the company’s rating was changed from “Sector Perform” to “Outperform”. On Friday, December 2nd, an analysis by Berenberg Bank was released stating that the bank had lowered its price estimate for Converge Technology Solutions from C$14.00 to C$9.50.
The analysis was published online. On Monday, December 12, the Canadian Imperial Bank of Commerce (CIBC) announced the results of a research study.
The bank said it was lowering its price target for Converge Technology Solutions from $7.00 to $5.25.
In a report published on February 15, BMO Capital Markets stated that the price target they had set for Converge Technology Solutions had been reduced from C$8.00 to C$7.50.
In a report published on Wednesday, February 15, Cormark lowered its target price on Converge Technology Solutions to $8,000 from $9.00;
In addition, the Company recently announced that Senior Officer Greg Berard purchased 9,308 shares of the Company’s stock on Friday, December 30th.
This purchase was made in a transaction with a total value of CA$42,816.80, which equates to a price of CA$4.60 per share. Upon the successful completion of the purchase, the Company’s insider owns 148,776 shares of the Company’s stock for a total value of approximately $684,369.60. Currently 4.88% of the company’s shares are held by company insiders.
Organizations across the United States and Canada that rely on Converge Technology Solutions INC for their IT needs receive cloud computing and software-enabled IT services.
The company’s solution approach, which includes advanced analytics, application modernization, cloud computing, cybersecurity, digital infrastructure and workplace products, can benefit customers in various markets.