Jarrod B. Pontius Sells 2,434 Shares of Convergys Corp. (CVG) Stock
Convergys Corp. (NYSE:CVG) General Counsel Jarrod B. Pontius sold 2,434 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $24.06, for a total transaction of $58,562.04. Following the completion of the sale, the general counsel now directly owns 24,853 shares of the company’s stock, valued at approximately $597,963.18. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Convergys Corp. (NYSE:CVG) traded up 0.79% on Wednesday, reaching $24.17. 585,633 shares of the company’s stock traded hands. The stock has a 50-day moving average of $28.76 and a 200 day moving average of $27.97. The firm has a market cap of $2.31 billion, a P/E ratio of 15.04 and a beta of 0.96. Convergys Corp. has a 12-month low of $22.53 and a 12-month high of $30.92.
Convergys Corp. (NYSE:CVG) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The firm earned $741 million during the quarter, compared to the consensus estimate of $760.53 million. Convergys Corp. had a return on equity of 14.87% and a net margin of 5.78%. Convergys Corp.’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Convergys Corp. will post $1.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, December 21st. Convergys Corp.’s dividend payout ratio is currently 22.22%.
A number of hedge funds and other institutional investors have recently modified their holdings of CVG. MSI Financial Services Inc increased its position in Convergys Corp. by 37.5% in the third quarter. MSI Financial Services Inc now owns 3,364 shares of the company’s stock worth $102,000 after buying an additional 918 shares in the last quarter. BlackRock Japan Co. Ltd purchased a new position in Convergys Corp. during the third quarter worth approximately $108,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Convergys Corp. by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,558 shares of the company’s stock worth $108,000 after buying an additional 372 shares in the last quarter. Victory Capital Management Inc. increased its position in Convergys Corp. by 16.7% in the third quarter. Victory Capital Management Inc. now owns 4,241 shares of the company’s stock worth $129,000 after buying an additional 608 shares in the last quarter. Finally, Advisor Group Inc. purchased a new position in Convergys Corp. during the second quarter worth approximately $109,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Convergys Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, November 11th. Citigroup Inc. upped their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.00.
Convergys Corp. Company Profile
Convergys Corporation is engaged in providing customer management services. The Company’s primary focus is on growth with multinational corporations and other companies in communications and media, financial services, technology, healthcare, retail and other vertical markets. Its segments include North America and Rest of World.
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