Converge Technology Solutions Corp CTSDF

Primary Symbol: T.CTS

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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Post by Possibleidiot01on Mar 12, 2024 2:23pm

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Jason Donville - BNN - TOP PICK

Converge Technology (CTS TSX)

Converge started out as a value-added reseller (VAR), but has expanded the services side of its business and should be seen as an end-to-end IT solutions provider. A lot of their organic growth is coming from AI workloads and advanced computing, with expectations for this side of the business to ramp significantly. Cash flow is very strong with management guided toward a 75 per cent conversion of EBITDA to free cash flow. They have been using cash to buy back shares, which has been highly accretive since the stock is traded at such a cheap multiple.

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