Converge Technology Solutions Corp T.CTS

Alternate Symbol(s): CTSDF

Technology Information Technology Services

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with advisory, implementation, and managed services across all IT vendors in the marketplace. Its segments include Converge Hybrid IT Solutions (Converge), and Portage Software-as-a-Solution (SaaS) Solutions. Converge is focused on delivering advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, digital workplace, and managed services offerings and provision of hardware and software products and solutions to clients across various industries and organizations. SaaS is focused on digital transactions between individuals, businesses, and government organizations.

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Converge Technology Solutions Corp > Stock Drop on Earnings and Buyback

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Post by AnAmateuron Aug 10, 2023 3:05pm

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Stock Drop on Earnings and Buyback

Can someone explain to me why the recent earnings and buyback were bad news for the stock?

I naively though that the earning results were great (YoY increases all around) and that stock buy back was a good think (inverse of dilution). I thought we would see a jump in stock price, but I was obviously mistaken.

What is the main concern about CTS? Thanks!

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