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Converge Technology Solutions Corp T.CTS

Alternate Symbol(s):  CTSDF

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.


TSX:CTS - Post by User

Post by retiredcfon Jun 23, 2022 12:39pm
233 Views
Post# 34777516

Good Answer

Good AnswerI hold TOI, CTS and ENGH in one account as my small cap technology allocation. Price action of course has been brutal since last fall. Would you continue to hold all three names or would you recommend getting rid of one or more? Would you add to any? Do you have any alternatives that may have better risk / reward in an eventual tech recovery? 

IF we were to get rid of one, we would choose ENGH, although, we do believe that eventually, it will recover. We like the debt profile, growth, and valuation of CTS, and would consider TOI to be in a pretty good place with strong free cash flows and an OK valuation. CTS is small but has a strong balance sheet and low valuation (0.4X price to sales and 10.4X P/E). If we were to add to a name, we would add to CTS at this time, hold TOI, and hold ENGH with a slight lean towards sell (if one is looking to sell a position).  (5iResearch)

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