Converge Technology Solutions (TSE:CTS – Get Free Report) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a C$5.50 price objective on the stock, down from their previous price objective of C$6.00. TD Securities’ price target points to a potential upside of 31.89% from the company’s current price.
Several other analysts also recently weighed in on the company. Cormark decreased their price objective on Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday, May 10th. National Bankshares boosted their target price on shares of Converge Technology Solutions from C$6.00 to C$7.00 in a report on Friday, May 10th. Finally, Ventum Cap Mkts upgraded shares of Converge Technology Solutions to a “strong-buy” rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Converge Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of C$6.43.
View Our Latest Analysis on CTS
Converge Technology Solutions Stock Up 1.5 %
Converge Technology Solutions (TSE:CTS – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share for the quarter, meeting the consensus estimate of C$0.11. The firm had revenue of C$628.77 million during the quarter, compared to the consensus estimate of C$661.10 million. Converge Technology Solutions had a negative return on equity of 1.08% and a negative net margin of 0.05%. Research analysts anticipate that Converge Technology Solutions will post 0.5411111 earnings per share for the current fiscal year.
Insider Transactions at Converge Technology Solutions
In other news, Senior Officer Avjit Kamboj sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$4.62, for a total transaction of C$115,500.00. In other news, Senior Officer Greg Berard bought 8,197 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average price of C$4.68 per share, for a total transaction of C$38,361.96. Also, Senior Officer Avjit Kamboj sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$4.62, for a total value of C$115,500.00. Insiders own 5.45% of the company’s stock.
Converge Technology Solutions Company Profile
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.
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