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Converge Technology Solutions Corp. (CTS.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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7.14+0.17 (+2.44%)
At close: 04:00PM EDT
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  • M
    Martin
    the CEO bought over $1,270,500 worth CTS today
  • m
    mountainpark
    Large quantities bought by Shaune Maine (CEO). Check SEDI filings
  • F
    Frederic
    An analyst at Scotiabank on Tuesday highlighted insights from an interview with Converge Technology Solutions Corp.'s (CTS) CEO Shaun Maine regarding the company's $472 million bookings backlog as of March 31.7

    The company's shares rose 0.4% on last look on Wednesday.

    The company had said the backlog was mainly because of the delay in the network gear and equipment deliveries from vendors like Cisco (CSCO), Palo Alto Networks (PANW), Arista Networks (ANET), Juniper Networks (JNPR), and Hewlett Packard Enterprise Co. (HPE).

    Maine told the analyst that the company has never faced any delays with IBM and that the supply chain has started speeding up with Apple (AAPL) and Dell Technologies Inc. (DELL).

    In the interview, Maine also discussed recent executive hires, European growth plans, and other topics like Portage Cybertech and Organic Growth calculation.

    "We believe CTS has a well-established global business model aligned with the ever-increasing demand for digital transformation solutions resulting in a robust business pipeline and solid free cash flows while being backed by a strong leadership team," the analyst said.

    Scotiabank has a sector outperform rating on the company with a price target of $14.
  • M
    Mike
    Good thing we had a holiday when nasdaq was green right? 😅
  • M
    Martin
    The chairman of CTS bought 300k worth of CTS at $6 a few days ago
  • R
    Richard
    Tx Martin found the filings, there a many reasons why insiders Sell but only One reason why they buy. Long for the long haul 👍☮️🏀
  • m
    mountainpark
    The frustrating part about CTS has always been that almost 90% of the time it follows Nasdaq trend but a more exaggerated multiple of Nasdaq performance. The other 10% is related to CTS's actual performance! Many stocks in Nasdaq are overvalued and they deserve to fall to more reasonable prices. CTS is undervalued, yet it follows that trend!
  • t
    tofu
    If just above 7 is good enough for the CEO its good enough for me
  • S
    Steve
    PC Specialists, Inc. d/b/a Technology Integration Group generated gross revenue1 of approximately C$423.0 million with an adjusted EBITDA2 of C$14.8 million for its most recently completed fiscal year ended October 31, 2021. Consideration for the purchase consists of US$74.0 million in cash to be paid at closing. Positive net working capital will also be paid out at closing. The purchase multiple is approximately 5.96 times adjusted EBITDA2 for the trailing twelve-month period ended October 31, 2021, after adjusting for positive working capital. The acquisition is expected upon closing to be immediately accretive to Converge, resulting in increased revenue and adjusted EBITDA2.
  • O
    OAKS
    Insider buyers timed that pretty well I'd say.
  • E
    Ed
    not going anywhere any time soon .not in this marker.
  • L
    Liam
    Basically we’re at the mercy of market multiples. We should’ve capitalized more in the Fed driven market. A US ipo for at least 300M should have been done. CTS can’t raise capital here so we must trust them to execute on their acquisitions and cash flow optimization. I really don’t think it can drop anymore as the fundamentals support this. We should all buy calls like Chad has because this can only go up.
  • M
    Martin
    S and p 500 is officially in a bear market now, nasdaq hit another 52 week low
  • O
    OAKS
    @ronald
  • M
    Martin
    CTS has always loved to go up when everyone least expects it
  • E
    Ed
    we are up 0.01 let's go
  • F
    Frederic
    David Kwan from TD securities reduced his price to 8.5
  • M
    Martin
    Nasdaq is down and we’re up 10%
  • F
    Frederic
    For the moment, all the analysts are hailing the revenue performance and above all the growth prospects which are very good and fortunately otherwise I dare not imagine how far the price would/could go down. This morning I have a big thought for D/XBC :)