Convergys Corporation (CVG) Shares Sold by Tudor Investment Corp ET AL
Tudor Investment Corp ET AL lessened its stake in shares of Convergys Corporation (NYSE:CVG) by 46.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,153 shares of the business services provider’s stock after selling 36,222 shares during the period. Tudor Investment Corp ET AL’s holdings in Convergys Corporation were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of 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 purchasing an additional 2,233 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of 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 purchasing an additional 1,125 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of 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 purchasing an additional 3,125 shares during the last quarter. Wayne Hummer Investments L.L.C. acquired a new position in shares of Convergys Corporation during the 2nd quarter worth about $206,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Convergys Corporation during the 2nd quarter worth about $212,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.
In other Convergys Corporation news, Director Jeffrey H. Fox sold 43,609 shares of Convergys Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the completion of the transaction, the director now owns 338,804 shares in the company, valued at $7,972,058.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of Convergys Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total transaction of $235,200.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Convergys Corporation (CVG) opened at 25.90 on Thursday. The firm has a market cap of $2.42 billion, a P/E ratio of 18.29 and a beta of 1.06. The company’s 50 day moving average is $24.36 and its 200 day moving average is $23.49. Convergys Corporation has a 52-week low of $20.15 and a 52-week high of $30.34.
Convergys Corporation (NYSE:CVG) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. The firm had revenue of $686.80 million for the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities research analysts forecast that Convergys Corporation will post $1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 21st. Convergys Corporation’s dividend payout ratio is currently 28.37%.
Several research firms recently weighed in on CVG. BidaskClub upgraded shares of Convergys Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a research report on Sunday, September 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Convergys Corporation has a consensus rating of “Hold”.
Convergys Corporation 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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