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

Converge Technology Solutions (TSE:CTS - Get Rating) had its price objective reduced by analysts at National Bankshares from C$8.00 to C$7.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price objective indicates a potential upside of 75.00% from the stock's previous close.

CTS has been the topic of several other reports. Scotiabank reduced their price objective on Converge Technology Solutions from C$8.00 to C$7.00 in a research note on Thursday. Berenberg Bank cut their price objective on shares of Converge Technology Solutions from C$14.00 to C$9.50 in a research report on Friday, December 2nd. Raymond James lowered their target price on shares of Converge Technology Solutions from C$8.50 to C$7.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 15th. CIBC lowered their target price on Converge Technology Solutions from C$7.00 to C$5.25 in a report on Monday, December 12th. Finally, BMO Capital Markets dropped their price target on Converge Technology Solutions from C$8.00 to C$7.50 in a report on Wednesday, February 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$8.48.

Converge Technology Solutions Price Performance

Converge Technology Solutions stock traded down C$0.11 during midday trading on Friday, reaching C$4.00. The company's stock had a trading volume of 1,589,605 shares, compared to its average volume of 1,037,317. The company has a debt-to-equity ratio of 63.41, a quick ratio of 0.68 and a current ratio of 0.84. The stock's 50 day simple moving average is C$5.11 and its 200 day simple moving average is C$4.77. Converge Technology Solutions has a fifty-two week low of C$3.60 and a fifty-two week high of C$11.04. The firm has a market capitalization of C$841.28 million, a PE ratio of 25.00, a P/E/G ratio of 0.14 and a beta of 1.99.

Insider Activity at Converge Technology Solutions

In other news, Senior Officer Greg Berard bought 9,308 shares of the firm's stock in a transaction on Friday, December 30th. The stock was acquired at an average price of C$4.60 per share, with a total value of C$42,816.80. Following the transaction, the insider now owns 148,776 shares of the company's stock, valued at approximately C$684,369.60. 4.88% of the stock is currently owned by company insiders.

Converge Technology Solutions Company Profile

(Get Rating)

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.