Converge Technology Solutions (TSE:CTS) Given New C$7.00 Price Target at Raymond James

Converge Technology Solutions (TSE:CTS – Get Rating) had its target price reduced by Raymond James from C$8.50 to C$7.00 in a report published on Wednesday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock. Raymond James also issued estimates for Converge Technology Solutions’ FY2022 earnings at $0.13 EPS.

A number of other brokerages have also recently issued reports on CTS. Canaccord Genuity Group cut their price objective on shares of Converge Technology Solutions from C$10.50 to C$8.50 in a research note on Wednesday. Cormark reduced their price objective on shares of Converge Technology Solutions from C$9.00 to C$8.00 in a research report on Wednesday. Berenberg Bank reduced their target price on Converge Technology Solutions from C$14.00 to C$9.50 in a report on Friday, December 2nd. CIBC lowered their target price on Converge Technology Solutions from C$7.00 to C$5.25 in a research note on Monday, December 12th. Finally, National Bankshares decreased their price objective on Converge Technology Solutions from C$12.00 to C$10.00 and set an outperform rating for the company in a report on Tuesday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from, Converge Technology Solutions presently has an average rating of Moderate Buy and an average price target of C$8.65.

Converge Technology Solutions Trading Up 0.8 %

Shares of CTS opened at C$4.93 on Wednesday. The company has a debt-to-equity ratio of 63.41, a current ratio of 0.84 and a quick ratio of 0.68. Converge Technology Solutions has a 1-year low of C$3.60 and a 1-year high of C$11.04. The company has a market capitalization of C$1.04 billion and a P/E ratio of 30.81. The firm’s 50 day simple moving average is C$5.20 and its 200 day simple moving average is C$4.89.

Insider Buying and Selling

In other Converge Technology Solutions news, Senior Officer Greg Berard bought 9,308 shares of the business’s stock in a transaction on Friday, December 30th. The shares were acquired at an average cost of C$4.60 per share, for a total transaction of C$42,816.80. Following the purchase, the insider now owns 148,776 shares in the company, valued at approximately C$684,369.60. Insiders bought a total of 17,462 shares of company stock worth $73,870 in the last three months.

Converge Technology Solutions Company Profile

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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.

Further Reading

Analyst Recommendations for Converge Technology Solutions (TSE:CTS)

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