Convergys Corporation (CVG) Announces Earnings Results

Convergys Corporation (NYSE:CVG) released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07, Bloomberg Earnings reports. 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 company’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS.

Convergys Corporation (CVG) opened at 22.92 on Friday. The firm’s 50-day moving average price is $23.80 and its 200-day moving average price is $23.19. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 16.19 and a beta of 1.04. Convergys Corporation has a 12 month low of $20.15 and a 12 month high of $30.92.

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 given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. Convergys Corporation’s dividend payout ratio is currently 28.37%.

Several brokerages recently commented on CVG. Zacks Investment Research downgraded Convergys Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. ValuEngine downgraded Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet upgraded Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Finally, BidaskClub upgraded 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, three have assigned a hold rating and one has given a buy rating to the company’s stock. Convergys Corporation has a consensus rating of “Hold” and a consensus target price of $33.00.

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In related news, CFO Andre S. Valentine sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total value of $235,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Taylor C. Greenwald sold 6,412 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $24.24, for a total transaction of $155,426.88. The disclosure for this sale can be found here. Insiders have sold 26,412 shares of company stock valued at $639,027 over the last quarter. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of CVG. Flinton Capital Management LLC boosted 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 boosted 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 worth $128,000 after buying an additional 408 shares during the period. Victory Capital Management Inc. boosted 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 worth $135,000 after buying an additional 2,233 shares during the period. Bartlett & Co. LLC boosted 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 worth $140,000 after buying an additional 1,093 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in shares of Convergys Corporation by 17.8% in the second 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 period. 98.72% of the stock is currently owned by institutional investors.

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.

Earnings History for Convergys Corporation (NYSE:CVG)

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