Convergys Corporation (CVG) Given Average Recommendation of “Hold” by Brokerages
Convergys Corporation (NYSE:CVG) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company.
Several research firms recently commented on CVG. BidaskClub upgraded Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Robert W. Baird reissued a “hold” rating on shares of Convergys Corporation in a report on Sunday, September 17th.
In other Convergys Corporation news, Director Jeffrey H. Fox sold 43,609 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the sale, the director now owns 338,804 shares of the company’s stock, valued at approximately $7,972,058.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total transaction of $235,200.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of CVG. Victory Capital Management Inc. raised its holdings in Convergys Corporation by 53.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 2,233 shares during the period. LS Investment Advisors LLC raised its holdings in Convergys Corporation by 17.8% during the 2nd quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 1,125 shares during the period. Riverhead Capital Management LLC raised its holdings in Convergys Corporation by 71.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 3,125 shares during the period. Flinton Capital Management LLC raised its holdings in Convergys Corporation by 69.1% during the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after acquiring an additional 3,444 shares during the period. Finally, Wayne Hummer Investments L.L.C. bought a new stake in Convergys Corporation during the 2nd quarter valued at $206,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Convergys Corporation (NYSE CVG) opened at 25.85 on Friday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 18.26 and a beta of 1.06. The stock’s 50 day moving average price is $24.50 and its 200-day moving average price is $23.54. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.34.
Convergys Corporation (NYSE:CVG) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The business had revenue of $686.80 million for the quarter, compared to the consensus estimate of $687.91 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. Convergys Corporation’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts forecast that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. Convergys Corporation’s payout ratio is 28.37%.
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Convergys Corporation Company Profile
Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.
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