Convergys Corp. (NYSE:CVG) has been assigned an average broker rating score of 2.50 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Analysts have set a one year consensus price target of $33.00 for the company and are predicting that the company will post $0.46 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Convergys Corp. an industry rank of 196 out of 265 based on the ratings given to its competitors.
CVG has been the subject of a number of analyst reports. Zacks Investment Research lowered Convergys Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Citigroup Inc. raised their price target on Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th.
Convergys Corp. (NYSE:CVG) opened at 29.14 on Thursday. The firm has a 50-day moving average price of $29.74 and a 200-day moving average price of $27.69. The firm has a market cap of $2.79 billion, a PE ratio of 17.06 and a beta of 0.99. Convergys Corp. has a one year low of $22.53 and a one year high of $30.92.
Convergys Corp. (NYSE:CVG) last released its earnings results on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. Convergys Corp. had a return on equity of 15.02% and a net margin of 6.14%. The business earned $692.30 million during the quarter, compared to the consensus estimate of $695.78 million. During the same period last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts expect that Convergys Corp. will post $1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 23rd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.24%. The ex-dividend date was Wednesday, September 21st. Convergys Corp.’s dividend payout ratio is 20.93%.
In related news, Director Jeffrey H. Fox sold 65,000 shares of Convergys Corp. stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $29.55, for a total transaction of $1,920,750.00. Following the completion of the sale, the director now owns 338,610 shares of the company’s stock, valued at $10,005,925.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey H. Fox sold 10,000 shares of Convergys Corp. stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $29.82, for a total value of $298,200.00. Following the sale, the director now directly owns 318,610 shares of the company’s stock, valued at approximately $9,500,950.20. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Convergys Corp. by 1,192.1% in the second quarter. FMR LLC now owns 1,098,300 shares of the company’s stock valued at $27,458,000 after buying an additional 1,013,300 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Convergys Corp. during the second quarter valued at about $24,148,000. Fuller & Thaler Asset Management Inc. raised its stake in Convergys Corp. by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,673,490 shares of the company’s stock valued at $91,837,000 after buying an additional 612,174 shares in the last quarter. Bank of Montreal Can acquired a new stake in Convergys Corp. during the second quarter valued at about $8,945,000. Finally, Vanguard Group Inc. raised its stake in Convergys Corp. by 4.5% in the second quarter. Vanguard Group Inc. now owns 6,623,546 shares of the company’s stock valued at $165,589,000 after buying an additional 285,165 shares in the last quarter. 99.08% of the stock is owned by institutional investors.
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.
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