Ralph Garcea Buys 4,000 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock

 Ralph Garcea Buys 4,000 Shares of Converge Technology Solutions Corp. (TSE:CTS) Stock


Converge Technology Solutions Corp. (TSE: CTS – Get Rating) Director Ralph Garcea acquired 4,000 shares of Converge Technology Solutions stock in a transaction that occurred on Thursday, May 12. The stock was purchased at an average price of C $ 6.10 per share, for the total transaction of C $ 24,400.00. Upon completion of the acquisition, the director now owns 58,000 shares of the company, valued at approximately C $ 353,800.

Shares of CTS traded at C $ 0.06 during trading hours on Friday, reaching C $ 6.15. 856,979 shares of the company were traded on hands, compared to its average number of 679,687. The company has a quick ratio of 1.12, a current ratio of 1.32 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of C $ 1.32 billion and a PE ratio of 76.88. Converge Technology Solutions Corp. has a fifty-two week low of C $ 5.88 and a fifty-two week high of C $ 13.09. The stock has a fifty day simple moving average of C $ 7.96 and a 200 day simple moving average of C $ 8.13.

CTS has been the subject of many research reports. National Bank Financial reaffirmed an “outperfrom under weight” rating on shares of Converge Technology Solutions in a research report on Tuesday, April 26th. CIBC lowered their target price on Converge Technology Solutions from C $ 12.50 to C $ 11.00 in a research report on Monday, January 31. National Bankshares set a C $ 14.00 price target on Converge Technology Solutions and issued the stock an “outperform” rating in a research report on Wednesday, April 27. Canaccord Genuity Group lowered their price target for Converge Technology Solutions from C $ 14.50 to C $ 12.00 in a research report on Thursday. Finally, TD Securities lowered their price target on Converge Technology Solutions from C $ 12.00 to C $ 8.50 and set a “hold” rating for the company in a report on Thursday. Two equities research analysts rated the stock with a hold rating and eight assigned a buy rating to the company’s stock. According to MarketBeat, Converge Technology Solutions currently has an average rating of “Buy” and a consensus target price of C $ 13.06.

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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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