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  5. CTS: Hi there, can you add anything to the AI conversation regarding CTS? [Converge Technology Solutions Corp.]
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Q: Hi there, can you add anything to the AI conversation regarding CTS?

How is CTS involved with AI or in supporting the use of AI using Nvidia product?

What is expected of CTS when it reports next week?

Is it fairly priced now based on preliminary numbers provided?

Are institutions and insiders now buying again?

How much stock has been purchased now by CTS to cancel, last year plus this year?

Thanks!
Asked by Hussein on February 27, 2024
5i Research Answer:

CTS has an advance analytics and AI practice, and is involved in AI in as much as customers are seeking its assistance and guidance in how to implement AI into their businesses. A word search of all documents from the company does not mention Nvidia, but to the extent that it is implementing AI solutions it is likely using NVDA GPUs. 12.9c and $708.7M in revenue is the consensus for next week's report. The stock is on a nice run, but we would consider it still cheap at 10X earnings. There has been a minor amount of insider buying in the last six months and on a net basis a small increase in institutional holdings. In 2023 (to Sept 30), 4.4M shares were purchased and cancelled. More recent numbers will be provided next week. 

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in NVDA.