According to Zacks, “Convergys Corp. is one of the global leaders in the provision of outsourced, integrated billing and customer care services. It focuses on developing long-term strategic relationships with clients in customer-intensive industries including telecommunications, cable, broadband, satellite broadcasting, Internet services, technology and financial services. The company serves its clients through its two operating units: the Information Management Group; and the Customer Management Group. “
Several other research firms also recently issued reports on CVG. Sidoti upgraded shares of Convergys Corp. from a neutral rating to a buy rating in a report on Wednesday, June 1st. Citigroup Inc. upped their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the company a neutral rating in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $31.00.
Shares of Convergys Corp. (NYSE:CVG) opened at 29.73 on Friday. The company has a market cap of $2.85 billion, a PE ratio of 17.41 and a beta of 1.06. The firm’s 50-day moving average is $29.61 and its 200-day moving average is $27.51. Convergys Corp. has a 1-year low of $22.53 and a 1-year high of $30.92.
Convergys Corp. (NYSE:CVG) last announced its earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business earned $692.30 million during the quarter, compared to the consensus estimate of $695.78 million. Convergys Corp. had a net margin of 6.14% and a return on equity of 15.02%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, equities analysts forecast that Convergys Corp. will post $1.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 23rd will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. Convergys Corp.’s dividend payout ratio is currently 20.93%.
In related news, Director Joseph E. Gibbs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $30.82, for a total value of $770,500.00. Following the sale, the director now owns 16,777 shares in the company, valued at $517,067.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey H. Fox sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $29.55, for a total value of $1,920,750.00. Following the completion of the sale, the director now owns 338,610 shares in the company, valued at approximately $10,005,925.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new stake in shares of Convergys Corp. during the second quarter worth approximately $109,000. LS Investment Advisors LLC raised its stake in shares of Convergys Corp. by 72.8% in the second quarter. LS Investment Advisors LLC now owns 5,827 shares of the company’s stock worth $146,000 after buying an additional 2,455 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Convergys Corp. during the first quarter worth approximately $180,000. LMR Partners LLP purchased a new stake in shares of Convergys Corp. during the second quarter worth approximately $201,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Convergys Corp. by 2,602.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,025 shares of the company’s stock worth $226,000 after buying an additional 8,691 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.
Convergys Corp. Company Profile
Convergys Corporation is engaged in providing customer management services. The Company’s primary focus is on growth with multinational corporations and other companies in communications and media, financial services, technology, healthcare, retail and other vertical markets. Its segments include North America and Rest of World.
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