Convergys Corporation (NYSE:CVG) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company.
A number of research firms have recently commented on CVG. ValuEngine downgraded Convergys Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Convergys Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TheStreet raised Convergys Corporation from a “c+” rating to a “b-” rating in a research note on Tuesday, May 23rd.
Shares of Convergys Corporation (CVG) opened at 23.54 on Tuesday. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.92. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 16.62 and a beta of 1.04. The firm has a 50-day moving average price of $23.90 and a 200 day moving average price of $23.27.
Convergys Corporation (NYSE:CVG) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping the Zacks’ 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 company had revenue of $686.80 million for the quarter, compared to the consensus estimate of $687.91 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that Convergys Corporation will post $1.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, September 21st. Convergys Corporation’s payout ratio is 28.37%.
In related news, insider Taylor C. Greenwald sold 6,412 shares of Convergys Corporation stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $24.24, for a total value of $155,426.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 10,000 shares of Convergys Corporation stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $24.84, for a total value of $248,400.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Convergys Corporation by 13,300.3% in the first quarter. BlackRock Inc. now owns 10,663,303 shares of the business services provider’s stock worth $225,529,000 after buying an additional 10,583,728 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Convergys Corporation by 6.8% in the second quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock worth $187,064,000 after buying an additional 503,693 shares during the last quarter. LSV Asset Management increased its position in shares of Convergys Corporation by 3.0% in the second quarter. LSV Asset Management now owns 4,604,891 shares of the business services provider’s stock worth $109,504,000 after buying an additional 132,200 shares in the last quarter. Northern Trust Corp increased its position in shares of Convergys Corporation by 1.6% in the second quarter. Northern Trust Corp now owns 3,599,474 shares of the business services provider’s stock worth $85,596,000 after buying an additional 57,522 shares in the last quarter. Finally, State Street Corp increased its position in shares of Convergys Corporation by 3.5% in the first quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock worth $67,284,000 after buying an additional 108,814 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.
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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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