Zacks Investment Research upgraded shares of Convergys (NYSE:CVG) from a sell rating to a hold rating in a report published on Monday.
According to Zacks, “Convergys Corporation is a global leader in relationship management. Convergys unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients. Convergys Corporation delivers consistent, quality customer experiences in 58 languages and from more than 150 locations around the globe. Convergys partner with clients to improve customer loyalty, reduce costs, and generate revenue through an extensive portfolio of capabilities, including customer care, analytics, tech support, collections, home agent, and end-to-end selling. Convergys are committed to delighting clients and their customers, delivering value to shareholders, and creating opportunities for talented, caring employees in 33 countries around the world. “
Several other equities analysts also recently weighed in on CVG. Robert W. Baird reiterated a hold rating on shares of Convergys in a report on Sunday, September 17th. SunTrust Banks reiterated a hold rating and issued a $26.00 price target on shares of Convergys in a report on Monday, October 9th. Barrington Research started coverage on shares of Convergys in a report on Tuesday, October 17th. They issued a market perform rating on the stock. Citigroup cut their price target on shares of Convergys from $25.00 to $24.00 and set a neutral rating on the stock in a report on Friday, November 10th. Finally, ValuEngine downgraded shares of Convergys from a buy rating to a hold rating in a report on Sunday, December 31st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $26.00.
Convergys (NYSE:CVG) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The business had revenue of $688.30 million during the quarter, compared to analyst estimates of $692.34 million. During the same quarter last year, the company posted $0.46 EPS. Convergys’s quarterly revenue was down 7.1% compared to the same quarter last year. research analysts anticipate that Convergys will post 1.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a $0.10 dividend. The ex-dividend date was Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.75%. Convergys’s dividend payout ratio is presently 30.77%.
In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey H. Fox sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total value of $594,250.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in Convergys by 0.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock worth $886,000 after purchasing an additional 112 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Convergys by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 36,097 shares of the business services provider’s stock worth $858,000 after purchasing an additional 567 shares in the last quarter. Amalgamated Bank boosted its position in Convergys by 6.7% in the 2nd quarter. Amalgamated Bank now owns 13,288 shares of the business services provider’s stock worth $316,000 after purchasing an additional 835 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Convergys by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock valued at $178,000 after buying an additional 1,125 shares in the last quarter. Finally, Signet Financial Management LLC lifted its position in shares of Convergys by 1.0% during the 2nd quarter. Signet Financial Management LLC now owns 131,206 shares of the business services provider’s stock valued at $3,120,000 after buying an additional 1,237 shares in the last quarter.
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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