Convergys Corporation (CVG) Shares Bought by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. lifted its stake in Convergys Corporation (NYSE:CVG) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,388 shares of the business services provider’s stock after purchasing an additional 9 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Convergys Corporation were worth $104,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Convergys Corporation by 53.9% in the first quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock worth $135,000 after purchasing an additional 2,233 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Convergys Corporation by 17.8% in the second quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after purchasing an additional 1,125 shares during the last quarter. Wayne Hummer Investments L.L.C. bought a new position in shares of Convergys Corporation in the second quarter worth about $206,000. Fox Run Management L.L.C. bought a new position in shares of Convergys Corporation in the second quarter worth about $212,000. Finally, Cigna Investments Inc. New bought a new position in shares of Convergys Corporation in the second quarter worth about $238,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.
In other Convergys Corporation news, CFO Andre S. Valentine sold 10,000 shares of Convergys Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey H. Fox sold 43,609 shares of Convergys Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following the completion of the transaction, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Convergys Corporation (NYSE CVG) opened at 25.48 on Friday. The company has a market capitalization of $2.38 billion, a PE ratio of 17.99 and a beta of 1.03. Convergys Corporation has a one year low of $20.15 and a one year high of $30.57. The firm’s 50-day moving average is $23.70 and its 200 day moving average is $23.15.
Convergys Corporation (NYSE:CVG) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. Convergys Corporation’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities analysts expect that Convergys Corporation will post $1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, September 21st. Convergys Corporation’s dividend payout ratio is currently 28.37%.
CVG has been the topic of a number of research analyst reports. ValuEngine cut shares of Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a report on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Convergys Corporation has a consensus rating of “Hold” and a consensus price target of $33.00.
Convergys Corporation Profile
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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