Fox Run Management L.L.C. Acquires Shares of 8,900 Convergys Corporation (CVG)
Fox Run Management L.L.C. bought a new stake in shares of Convergys Corporation (NYSE:CVG) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 8,900 shares of the business services provider’s stock, valued at approximately $212,000.
Several other large investors have also made changes to their positions in CVG. Flinton Capital Management LLC raised its stake in shares of Convergys Corporation by 7.2% in the first quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock valued at $106,000 after buying an additional 336 shares in the last quarter. Neuburgh Advisers LLC raised its stake in shares of Convergys Corporation by 7.2% in the first quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock valued at $128,000 after buying an additional 408 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Convergys Corporation by 53.9% in the first quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock valued at $135,000 after buying an additional 2,233 shares in the last quarter. Bartlett & Co. LLC raised its stake in shares of Convergys Corporation by 19.8% in the first quarter. Bartlett & Co. LLC now owns 6,612 shares of the business services provider’s stock valued at $140,000 after buying an additional 1,093 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Convergys Corporation during the first quarter valued at about $244,000. 98.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Convergys Corporation (NYSE CVG) traded down 1.21% during mid-day trading on Friday, hitting $22.92. The stock had a trading volume of 397,652 shares. Convergys Corporation has a 12 month low of $20.15 and a 12 month high of $30.92. The stock’s 50-day moving average is $23.80 and its 200 day moving average is $23.19. The company has a market cap of $2.14 billion, a PE ratio of 16.19 and a beta of 1.04.
Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $687.91 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 21st. Convergys Corporation’s payout ratio is presently 28.37%.
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Several equities research analysts have recently issued reports on CVG shares. TheStreet raised Convergys Corporation from a “c+” rating to a “b-” rating in a research report on Tuesday, May 23rd. ValuEngine lowered Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Convergys Corporation currently has an average rating of “Hold” and a consensus target price of $33.00.
In related news, Director Jeffrey H. Fox sold 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $24.84, for a total transaction of $248,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taylor C. Greenwald sold 6,412 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $24.24, for a total value of $155,426.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,412 shares of company stock valued at $639,027. 1.70% of the stock is owned by corporate insiders.
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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