May 19, 2022

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Software Development

Echelon Wealth Partners Reaffirms Buy Rating for Converge Technology Solutions (TSE:CTS)


Echelon Wealth Partners reaffirmed their buy rating on shares of Converge Technology Solutions (TSE:CTSGet Rating) in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have a C$14.50 price target on the stock.

CTS has been the topic of several other reports. TD Securities assumed coverage on shares of Converge Technology Solutions in a report on Tuesday, December 14th. They issued a hold rating and a C$13.00 price objective on the stock. Desjardins reaffirmed a buy rating on shares of Converge Technology Solutions in a report on Wednesday, March 23rd. Finally, Raymond James reaffirmed an outperform rating and issued a C$12.50 price objective on shares of Converge Technology Solutions in a report on Friday, February 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Converge Technology Solutions has a consensus rating of Buy and a consensus price target of C$13.50.

TSE:CTS opened at C$9.18 on Thursday. The company has a market cap of C$1.95 billion and a PE ratio of 114.75. Converge Technology Solutions has a twelve month low of C$5.16 and a twelve month high of C$13.09. The company has a current ratio of 1.32, a quick ratio of 1.12 and a debt-to-equity ratio of 2.93. The company’s 50 day moving average is C$10.00 and its two-hundred day moving average is C$10.47.

About Converge Technology Solutions (Get 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, compute 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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