Convergys (CVG) Upgraded to “Buy” at ValuEngine
ValuEngine upgraded shares of Convergys (NYSE:CVG) from a hold rating to a buy rating in a report released on Wednesday.
Other equities research analysts also recently issued reports about the company. Barrington Research reiterated a hold rating on shares of Convergys in a report on Monday, February 26th. Zacks Investment Research upgraded Convergys from a sell rating to a hold rating in a report on Monday, January 15th. Finally, Citigroup lowered their target price on Convergys from $25.00 to $24.00 and set a neutral rating for the company in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Convergys has an average rating of Hold and an average target price of $26.00.
Convergys (CVG) opened at $23.18 on Wednesday. Convergys has a 1 year low of $20.15 and a 1 year high of $26.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $2,090.73, a PE ratio of 19.00, a PEG ratio of 1.50 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Friday, March 23rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.73%. Convergys’s payout ratio is currently 32.79%.
In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of Convergys stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total value of $724,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVG. Aperio Group LLC increased its holdings in shares of Convergys by 88.9% during the third quarter. Aperio Group LLC now owns 85,272 shares of the business services provider’s stock valued at $2,208,000 after acquiring an additional 40,125 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Convergys during the third quarter valued at approximately $222,000. Victory Capital Management Inc. increased its holdings in shares of Convergys by 27.0% during the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after acquiring an additional 2,028 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Convergys during the third quarter valued at approximately $321,000. Finally, Foundry Partners LLC increased its holdings in shares of Convergys by 7.5% during the third quarter. Foundry Partners LLC now owns 243,435 shares of the business services provider’s stock valued at $6,303,000 after acquiring an additional 17,087 shares in the last quarter.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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