Fintel reports that on April 1, 2025, CANACCORD GENUITY downgraded their outlook for Converge Technology Solutions (TSX:CTS) from Buy to Hold.
Analyst Price Forecast Suggests 5.71% Downside
As of April 2, 2025, the average one-year price target for Converge Technology Solutions is $5.61/share. The forecasts range from a low of $5.56 to a high of $5.78. The average price target represents a decrease of 5.71% from its latest reported closing price of $5.95 / share.
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The projected annual non-GAAP EPS is 0.66.
Converge Technology Solutions Maintains 1.01% Dividend Yield
At the most recent price, the company’s dividend yield is 1.01%.
Additionally, the company’s dividend payout ratio is -0.07. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.08% .
What is the Fund Sentiment?
There are 40 funds or institutions reporting positions in Converge Technology Solutions. This is an decrease of 3 owner(s) or 6.98% in the last quarter. Average portfolio weight of all funds dedicated to CTS is 0.10%, an increase of 23.43%. Total shares owned by institutions increased in the last three months by 0.63% to 14,916K shares.
What are Other Shareholders Doing?
VSCAX - Invesco Small Cap Value Fund holds 8,187K shares representing 4.34% ownership of the company. In its prior filing, the firm reported owning 8,081K shares , representing an increase of 1.30%. The firm decreased its portfolio allocation in CTS by 5.66% over the last quarter.
BIVIX - Invenomic Fund Institutional Class shares holds 1,438K shares representing 0.76% ownership of the company. In its prior filing, the firm reported owning 1,203K shares , representing an increase of 16.31%. The firm increased its portfolio allocation in CTS by 15.91% over the last quarter.
TAISX - TIAA-CREF Quant International Small-Cap Equity Fund Advisor Class holds 810K shares representing 0.43% ownership of the company. In its prior filing, the firm reported owning 1,372K shares , representing a decrease of 69.33%. The firm decreased its portfolio allocation in CTS by 56.18% over the last quarter.
QCSTRX - Stock Account Class R1 holds 553K shares representing 0.29% ownership of the company. In its prior filing, the firm reported owning 930K shares , representing a decrease of 68.22%. The firm decreased its portfolio allocation in CTS by 58.85% over the last quarter.
GPGCX - Grandeur Peak Global Contrarian Fund Institutional Class holds 546K shares representing 0.29% ownership of the company. No change in the last quarter.
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This story originally appeared on Fintel.
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