Northwestern Mutual Investment Management Company LLC maintained its position in shares of Convergys Corp. (NYSE:CVG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,664 shares of the company’s stock at the end of the second quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Convergys Corp. were worth $417,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. acquired a new stake in shares of Convergys Corp. during the second quarter valued at $109,000. LS Investment Advisors LLC increased 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 valued at $146,000 after buying an additional 2,455 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Convergys Corp. during the first quarter valued at $180,000. LMR Partners LLP acquired a new stake in shares of Convergys Corp. during the second quarter valued at $201,000. Finally, Tower Research Capital LLC TRC increased 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 valued at $226,000 after buying an additional 8,691 shares during the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Convergys Corp. (NYSE:CVG) opened at 29.06 on Wednesday. Convergys Corp. has a 12 month low of $22.53 and a 12 month high of $30.92. The firm has a 50 day moving average price of $29.22 and a 200-day moving average price of $27.39. The company has a market cap of $2.79 billion, a P/E ratio of 17.01 and a beta of 1.06.
Convergys Corp. (NYSE:CVG) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $692.30 million for the quarter, compared to analyst estimates of $695.78 million. Convergys Corp. had a return on equity of 15.02% and a net margin of 6.14%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Analysts anticipate that Convergys Corp. will post $1.91 earnings per share for the current fiscal year.
The business 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, September 21st. Convergys Corp.’s dividend payout ratio is currently 20.93%.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Convergys Corp. from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, August 10th. Citigroup Inc. increased their target price on Convergys Corp. from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Finally, Sidoti upgraded Convergys Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $31.00.
In related news, CFO Andre S. Valentine sold 9,000 shares of Convergys Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $29.56, for a total value of $266,040.00. Following the sale, the chief financial officer now owns 80,137 shares of the company’s stock, valued at $2,368,849.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph E. Gibbs sold 25,000 shares of Convergys Corp. stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $30.82, for a total value of $770,500.00. Following the completion of the sale, the director now directly owns 16,777 shares in the company, valued at approximately $517,067.14. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
About Convergys Corp.
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.
Want to see what other hedge funds are holding CVG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Convergys Corp. (NYSE:CVG).
Receive News & Ratings for Convergys Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Convergys Corp. and related companies with MarketBeat.com's FREE daily email newsletter.