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

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



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 12. The shares were purchased at an average price of C $ 6.10 per share, with a total value of C $ 24,400.00. After completing the acquisition, the director now owns 58,000 shares in the company, valued at C $ 353,800.

Shares of CTS stock traded at C $ 0.06 during trading hours on Friday, hitting C $ 6.15. The stock has a trading volume of 856,979 shares, compared to its average volume of 679,687. The company 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 an immediate ratio of 1.12.

Many research firms have recently released 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 lowered 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 31. Two investment analysts rated the stock as has a hold rating and eight assigns 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.

Company Profile of Converge Technology Solutions (Get a 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, computing 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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