September 28, 2022
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Converge Technology Solutions Corp. (TSE:CTS) Director Purchases C$24,400.00 in Stock

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Converge Technology Solutions Corp. (TSE:CTS – Get Rating) Director Ralph Garcea bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of C$6.10 per share, with a total value of C$24,400.00. Following the completion of the acquisition, the director now owns 58,000 shares in the company, valued at C$353,800.

Shares of CTS stock traded up C$0.06 during trading hours on Friday, hitting C$6.15. The stock had a trading volume of 856,979 shares, compared to its average volume of 679,687. The firm has a market capitalization of C$1.32 billion and a PE ratio of 76.88. Converge Technology Solutions Corp. has a twelve month low of C$5.88 and a twelve month high of C$13.09. The stock’s 50 day moving average is C$7.96 and its 200 day moving average is C$8.13. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.32 and a quick ratio of 1.12.

A number of research firms have recently issued reports on CTS. National Bankshares set a C$14.00 target price on shares of Converge Technology Solutions and gave the stock an “outperform” rating in a report on Wednesday, April 27th. Canaccord Genuity Group decreased their target price on shares of Converge Technology Solutions from C$14.50 to C$12.00 in a research report on Thursday. Echelon Wealth Partners reissued a “buy” rating and set a C$14.50 price target on shares of Converge Technology Solutions in a research report on Thursday, April 7th. Raymond James set a C$12.50 target price on shares of Converge Technology Solutions and gave the stock an “outperform” rating in a research note on Thursday. Finally, CIBC cut their target price on shares of Converge Technology Solutions from C$12.50 to C$11.00 in a research note on Monday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$13.06.

Converge Technology Solutions Company Profile (Get Rating)

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization.

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