SunTrust Banks, Inc. reiterated their hold rating on shares of Convergys Corporation (NYSE:CVG) in a research note issued to investors on Monday. The firm currently has a $26.00 price objective on the business services provider’s stock.
Several other analysts also recently issued reports on the company. Robert W. Baird restated a hold rating on shares of Convergys Corporation in a research note on Sunday, September 17th. BidaskClub upgraded Convergys Corporation from a sell rating to a hold rating in a research note on Saturday, August 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Convergys Corporation presently has an average rating of Hold and a consensus target price of $26.00.
Convergys Corporation (NYSE CVG) opened at 26.02 on Monday. The company has a 50 day moving average price of $24.83 and a 200-day moving average price of $23.70. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.38 and a beta of 1.06. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.34.
Convergys Corporation (NYSE:CVG) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The business had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. Equities analysts predict that Convergys Corporation will post $1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. Convergys Corporation’s payout ratio is 28.37%.
In other news, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the completion of the sale, the director now directly owns 338,804 shares in the company, valued at approximately $7,972,058.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of 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 lifted its position in shares of 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 lifted its position in shares of 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 lifted its position in shares of 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 shares of Convergys Corporation during the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.
About Convergys Corporation
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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