Convergys Corporation (CVG) Rating Reiterated by Robert W. Baird
Convergys Corporation (NYSE:CVG)‘s stock had its “hold” rating reaffirmed by Robert W. Baird in a research report issued on Sunday.
Several other equities research analysts have also issued reports on CVG. 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 research report on Friday, June 2nd. Finally, BidaskClub lowered Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Convergys Corporation presently has a consensus rating of “Hold” and a consensus target price of $33.00.
Convergys Corporation (CVG) opened at 24.62 on Friday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 17.39 and a beta of 1.03. The stock’s 50 day moving average is $23.64 and its 200-day moving average is $23.08. Convergys Corporation has a 12 month low of $20.15 and a 12 month high of $30.57.
Convergys Corporation (NYSE:CVG) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The business had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. On average, equities research analysts expect that Convergys Corporation will post $1.88 earnings per share for the current year.
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In related news, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the sale, the director now directly owns 338,804 shares of the company’s stock, valued at approximately $7,972,058.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC raised its position in shares of Convergys Corporation by 7.2% during the 1st quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 336 shares in the last quarter. Neuburgh Advisers LLC grew its stake in Convergys Corporation by 7.2% during the 1st quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock worth $128,000 after buying an additional 408 shares during the last quarter. Victory Capital Management Inc. grew its stake in Convergys Corporation by 53.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock worth $135,000 after buying an additional 2,233 shares during the last quarter. LS Investment Advisors LLC grew its stake in Convergys Corporation by 17.8% during the 2nd quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after buying an additional 1,125 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Convergys Corporation by 71.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after buying an additional 3,125 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.
About Convergys Corporation
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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