Jarrod B. Pontius Sells 1,111 Shares of Convergys Corp. (CVG) Stock
Convergys Corp. (NYSE:CVG) General Counsel Jarrod B. Pontius sold 1,111 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $24.50, for a total transaction of $27,219.50. Following the completion of the transaction, the general counsel now owns 23,742 shares of the company’s stock, valued at approximately $581,679. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Convergys Corp. (NYSE:CVG) opened at 25.38 on Tuesday. The company has a market cap of $2.42 billion, a PE ratio of 15.79 and a beta of 0.96. The firm’s 50 day moving average is $28.19 and its 200 day moving average is $27.93. Convergys Corp. has a 12 month low of $22.53 and a 12 month high of $30.92.
Convergys Corp. (NYSE:CVG) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $741 million for the quarter, compared to analyst estimates of $760.53 million. Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. On average, equities analysts predict that Convergys Corp. will post $1.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.36 annualized dividend and a dividend yield of 1.42%. Convergys Corp.’s dividend payout ratio is 22.22%.
Several hedge funds have recently bought and sold shares of the company. Bruderman Asset Management LLC raised its stake in Convergys Corp. by 0.3% in the third quarter. Bruderman Asset Management LLC now owns 6,710 shares of the company’s stock valued at $204,000 after buying an additional 20 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of Convergys Corp. by 0.5% in the second quarter. State Treasurer State of Michigan now owns 38,700 shares of the company’s stock worth $968,000 after buying an additional 200 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Convergys Corp. by 1.4% in the third quarter. First Citizens Bank & Trust Co. now owns 17,260 shares of the company’s stock worth $525,000 after buying an additional 231 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Convergys Corp. by 5.7% in the third quarter. LS Investment Advisors LLC now owns 6,158 shares of the company’s stock worth $187,000 after buying an additional 331 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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. Institutional investors and hedge funds own 99.56% of the company’s stock.
CVG has been the subject of several research analyst reports. 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. boosted their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. One equities research 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 currently has an average rating of “Hold” and a consensus price target of $31.00.
About Convergys Corp.
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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