Convergys Corp. (CVG) Sets New 1-Year High at $29.97
Shares of Convergys Corp. (NYSE:CVG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.97 and last traded at $29.90, with a volume of 300,321 shares. The stock had previously closed at $29.57.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Convergys Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, August 10th. Citigroup Inc. boosted their price objective on Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Sidoti upgraded Convergys Corp. from a “neutral” rating to a “buy” rating in a report on Wednesday, June 1st. Finally, Robert W. Baird restated a “hold” rating on shares of Convergys Corp. in a report on Monday, May 16th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.00.
The firm’s 50-day moving average price is $27.35 and its 200 day moving average price is $26.77. The firm has a market cap of $2.86 billion and a P/E ratio of 17.44.
Convergys Corp. (NYSE:CVG) last issued its earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The business had revenue of $692.30 million for the quarter, compared to the consensus estimate of $695.78 million. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Analysts forecast that Convergys Corp. will post $1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 23rd will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.36 annualized dividend and a dividend yield of 1.21%.
In other news, Director Jeffrey H. Fox sold 65,000 shares of Convergys Corp. stock in a transaction that occurred 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 transaction, the director now directly owns 338,610 shares in the company, valued at approximately $10,005,925.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey H. Fox sold 15,000 shares of Convergys Corp. stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $28.14, for a total value of $422,100.00. Following the transaction, the director now owns 348,610 shares of the company’s stock, valued at $9,809,885.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Convergys Corp. stock. US Bancorp DE raised its stake in Convergys Corp. (NYSE:CVG) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,129 shares of the company’s stock after buying an additional 592 shares during the period. US Bancorp DE owned about 0.06% of Convergys Corp. worth $1,571,000 at the end of the most recent quarter.
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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