Convergys Corp. (CVG) Sets New 52-Week High at $29.97
Shares of Convergys Corp. (NYSE:CVG) hit a new 52-week high 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.
CVG has been the topic of several research analyst reports. Zacks Investment Research raised shares of Convergys Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Wednesday, August 10th. Robert W. Baird reaffirmed a “hold” rating on shares of Convergys Corp. in a research note on Monday, May 16th. Citigroup Inc. upped their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 10th. Finally, Sidoti raised shares of Convergys Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.00.
The company has a market cap of $2.87 billion and a P/E ratio of 17.52. The stock has a 50-day moving average price of $27.61 and a 200 day moving average price of $26.81.
Convergys Corp. (NYSE:CVG) last posted its earnings results on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping 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. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. Equities research analysts anticipate that Convergys Corp. will post $1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 23rd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, September 21st.
In other Convergys Corp. news, Director Jeffrey H. Fox sold 10,000 shares of Convergys Corp. stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $29.82, for a total value of $298,200.00. Following the completion of the sale, the director now owns 318,610 shares in the company, valued at approximately $9,500,950.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey H. Fox sold 65,000 shares of Convergys Corp. stock in a transaction dated 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 approximately $10,005,925.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 SEC. The firm 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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