Convergys Corporation (CVG) CFO Sells $235,200.00 in Stock
Convergys Corporation (NYSE:CVG) CFO Andre S. Valentine sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total transaction of $235,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Convergys Corporation (NYSE CVG) traded up 1.11% on Wednesday, hitting $23.66. 334,285 shares of the company were exchanged. The company has a 50 day moving average price of $23.86 and a 200-day moving average price of $23.20. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.92. The stock has a market capitalization of $2.21 billion, a P/E ratio of 16.71 and a beta of 1.04.
Convergys Corporation (NYSE:CVG) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The business had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts expect that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%. Convergys Corporation’s payout ratio is 28.37%.
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Several large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Convergys Corporation by 20.5% in the first quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock worth $62,793,000 after buying an additional 505,311 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Convergys Corporation by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock worth $64,654,000 after buying an additional 141,399 shares during the period. Bowling Portfolio Management LLC increased its stake in Convergys Corporation by 18.4% in the first quarter. Bowling Portfolio Management LLC now owns 26,041 shares of the business services provider’s stock worth $551,000 after buying an additional 4,050 shares during the period. Boston Partners increased its stake in Convergys Corporation by 2.0% in the first quarter. Boston Partners now owns 502,374 shares of the business services provider’s stock worth $10,625,000 after buying an additional 9,777 shares during the period. Finally, Seizert Capital Partners LLC increased its stake in Convergys Corporation by 33.4% in the first quarter. Seizert Capital Partners LLC now owns 90,404 shares of the business services provider’s stock worth $1,912,000 after buying an additional 22,621 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.
A number of research firms recently weighed in on CVG. ValuEngine lowered shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet raised shares of Convergys Corporation from a “c+” rating to a “b-” rating in a research report on Tuesday, May 23rd. BidaskClub lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.00.
Convergys Corporation Company Profile
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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