Cory Reid Purchases 5000 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock – MarketBeat

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Converge Technology Solutions Corp. (TSE:CTSGet Rating) Senior Officer Cory Reid purchased 5,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was acquired at an average price of C$3.82 per share, for a total transaction of C$19,100.00. Following the completion of the transaction, the insider now directly owns 271,995 shares of the company’s stock, valued at C$1,039,020.90.

Converge Technology Solutions Trading Up 1.6 %

CTS stock traded up C$0.08 during mid-day trading on Friday, hitting C$5.04. 945,021 shares of the company were exchanged, compared to its average volume of 831,430. Converge Technology Solutions Corp. has a twelve month low of C$3.60 and a twelve month high of C$12.04. The stock’s fifty day moving average is C$5.00. The company has a debt-to-equity ratio of 63.41, a current ratio of 0.84 and a quick ratio of 0.68. The firm has a market cap of C$1.06 billion and a P/E ratio of 29.65.

Wall Street Analyst Weigh In

CTS has been the topic of several research reports. CIBC lowered their price target on shares of Converge Technology Solutions from C$8.00 to C$7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 10th. Raymond James decreased their target price on shares of Converge Technology Solutions from C$9.50 to C$8.50 in a research report on Friday, October 28th. TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and decreased their target price for the stock from C$8.50 to C$6.50 in a research report on Thursday, November 10th. National Bankshares decreased their target price on shares of Converge Technology Solutions from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Finally, Scotiabank decreased their target price on shares of Converge Technology Solutions from C$11.00 to C$10.00 in a research report on Friday, November 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Converge Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of C$10.17.

About Converge Technology Solutions

(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.

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