Ameritas Investment Partners Inc. Sells 1,056 Shares of Convergys Corp (CVG)
Ameritas Investment Partners Inc. decreased its position in Convergys Corp (NYSE:CVG) by 2.9% during the first quarter, Holdings Channel reports. The firm owned 35,530 shares of the business services provider’s stock after selling 1,056 shares during the period. Ameritas Investment Partners Inc.’s holdings in Convergys Corp were worth $751,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of CVG. Flinton Capital Management LLC increased its stake in Convergys Corp by 7.2% in the first quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock worth $106,000 after buying an additional 336 shares during the period. Neuburgh Advisers LLC increased its stake in Convergys Corp by 7.2% in the first quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock worth $128,000 after buying an additional 408 shares during the period. Bartlett & Co. LLC increased its stake in Convergys Corp by 19.8% in the first quarter. Bartlett & Co. LLC now owns 6,612 shares of the business services provider’s stock worth $140,000 after buying an additional 1,093 shares during the period. Strategic Investment Management LLC purchased a new stake in Convergys Corp during the fourth quarter worth $183,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Convergys Corp during the fourth quarter worth $208,000. 97.42% of the stock is owned by institutional investors.
Convergys Corp (NYSE:CVG) traded up 0.37% during mid-day trading on Friday, reaching $24.71. The company’s stock had a trading volume of 552,015 shares. Convergys Corp has a 52-week low of $20.15 and a 52-week high of $30.92. The company has a 50 day moving average of $23.29 and a 200-day moving average of $23.67. The stock has a market cap of $2.33 billion, a PE ratio of 18.36 and a beta of 0.93.
Convergys Corp (NYSE:CVG) last posted its quarterly earnings data on Monday, May 8th. The business services provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.07. Convergys Corp had a return on equity of 14.87% and a net margin of 5.78%. The firm had revenue of $727.60 million during the quarter, compared to analyst estimates of $719.96 million. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities analysts forecast that Convergys Corp will post $1.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 23rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 21st. This is a positive change from Convergys Corp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. Convergys Corp’s dividend payout ratio (DPR) is 22.22%.
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A number of equities research analysts have recently weighed in on CVG shares. TheStreet raised Convergys Corp from a “c+” rating to a “b-” rating in a research note on Tuesday, May 23rd. Sidoti reissued a “buy” rating on shares of Convergys Corp in a research note on Monday, March 27th. ValuEngine downgraded Convergys Corp from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Convergys Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, SunTrust Banks, Inc. downgraded Convergys Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.50.
In other news, insider Taylor C. Greenwald sold 6,412 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $24.24, for a total value of $155,426.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $21.24, for a total value of $637,200.00. Following the completion of the sale, the chief executive officer now owns 370,536 shares of the company’s stock, valued at $7,870,184.64. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
About Convergys Corp
Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.
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