Convergys Corporation (CVG) Position Reduced by Menta Capital LLC
Menta Capital LLC decreased its position in Convergys Corporation (NYSE:CVG) by 66.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,390 shares of the business services provider’s stock after selling 36,238 shares during the period. Menta Capital LLC’s holdings in Convergys Corporation were worth $437,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its stake in Convergys Corporation by 3.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 77,921 shares of the business services provider’s stock worth $1,853,000 after purchasing an additional 2,925 shares during the period. PNC Financial Services Group Inc. grew its position in Convergys Corporation by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock worth $886,000 after purchasing an additional 112 shares in the last quarter. Amalgamated Bank raised its stake in Convergys Corporation by 6.7% during the 2nd quarter. Amalgamated Bank now owns 13,288 shares of the business services provider’s stock valued at $316,000 after purchasing an additional 835 shares during the period. TIAA CREF Investment Management LLC raised its stake in Convergys Corporation by 7.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 448,912 shares of the business services provider’s stock valued at $10,675,000 after purchasing an additional 32,614 shares during the period. Finally, Teachers Advisors LLC raised its stake in Convergys Corporation by 12.4% during the 2nd quarter. Teachers Advisors LLC now owns 184,131 shares of the business services provider’s stock valued at $4,379,000 after purchasing an additional 20,374 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.
In other Convergys Corporation news, CFO Andre S. Valentine sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey H. Fox sold 43,609 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following the completion of the transaction, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Convergys Corporation (NYSE:CVG) opened at 25.89 on Monday. The firm’s 50-day moving average price is $23.70 and its 200 day moving average price is $23.15. The stock has a market cap of $2.42 billion, a PE ratio of 18.28 and a beta of 1.05. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.57.
Convergys Corporation (NYSE:CVG) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. The company had revenue of $686.80 million during the quarter, compared to analyst estimates of $687.91 million. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue was down .8% on a year-over-year basis. Equities research analysts expect that Convergys Corporation will post $1.88 EPS for the current year.
The firm also recently disclosed 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 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, September 21st. Convergys Corporation’s payout ratio is presently 28.37%.
CVG has been the subject of a number of research analyst reports. Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a report on Sunday, September 17th. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold”.
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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