Eagle Asset Management Inc. Has $22,522,000 Stake in Convergys Corp. (CVG)
Eagle Asset Management Inc. decreased its stake in Convergys Corp. (NYSE:CVG) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 740,375 shares of the company’s stock after selling 10,792 shares during the period. Eagle Asset Management Inc. owned about 0.77% of Convergys Corp. worth $22,522,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Waverton Investment Management Ltd boosted its stake in shares of Convergys Corp. by 132.0% in the third quarter. Waverton Investment Management Ltd now owns 259,606 shares of the company’s stock valued at $7,897,000 after buying an additional 147,703 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Convergys Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 33,538 shares of the company’s stock valued at $1,020,000 after buying an additional 665 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Convergys Corp. by 27.4% in the third quarter. Eqis Capital Management Inc. now owns 21,909 shares of the company’s stock valued at $666,000 after buying an additional 4,717 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Convergys Corp. by 5.1% in the second quarter. Macquarie Group Ltd. now owns 719,965 shares of the company’s stock valued at $17,999,000 after buying an additional 35,022 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new position in Convergys Corp. during the second quarter valued at $1,100,000. Institutional investors own 98.64% of the company’s stock.
Shares of Convergys Corp. (NYSE:CVG) traded up 0.58% on Monday, reaching $26.00. 175,669 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $27.82 and its 200-day moving average price is $27.91. Convergys Corp. has a 52-week low of $22.53 and a 52-week high of $30.92. The stock has a market cap of $2.48 billion, a P/E ratio of 16.18 and a beta of 0.96.
Convergys Corp. (NYSE:CVG) last posted its earnings results on Tuesday, November 8th. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The firm earned $741 million during the quarter, compared to analysts’ expectations of $760.53 million. Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities analysts forecast that Convergys Corp. will post $1.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be issued a $0.09 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.39%. Convergys Corp.’s dividend payout ratio (DPR) is currently 22.22%.
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Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Convergys Corp. from a “hold” rating to a “strong sell” rating in a research note on Friday, November 11th. Citigroup Inc. lifted their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.00.
In other news, Director Joseph E. Gibbs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $30.82, for a total value of $770,500.00. Following the completion of the transaction, the director now owns 16,777 shares of the company’s stock, valued at $517,067.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jarrod B. Pontius sold 1,111 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $24.50, for a total value of $27,219.50. Following the completion of the transaction, the general counsel now directly owns 23,742 shares of the company’s stock, valued at approximately $581,679. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
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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