Convergys Corporation (CVG) Now Covered by Barrington Research
Barrington Research began coverage on shares of Convergys Corporation (NYSE:CVG) in a research note released on Tuesday morning. The brokerage issued a market perform rating on the business services provider’s stock. Barrington Research also issued estimates for Convergys Corporation’s Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $1.88 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.94 EPS and FY2019 earnings at $2.14 EPS.
CVG has been the subject of several other research reports. Robert W. Baird reiterated a hold rating on shares of Convergys Corporation in a research report on Sunday, September 17th. BidaskClub upgraded Convergys Corporation from a sell rating to a hold rating in a research report on Saturday, August 12th. Finally, SunTrust Banks, Inc. reiterated a hold rating and issued a $26.00 price objective on shares of Convergys Corporation in a research report on Monday, October 9th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $26.00.
Convergys Corporation (CVG) traded up 1.21% on Tuesday, hitting $26.02. The stock had a trading volume of 605,706 shares. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.10. The firm has a market cap of $2.43 billion, a P/E ratio of 18.38 and a beta of 1.06. The firm’s 50-day moving average price is $25.24 and its 200-day moving average price is $23.91.
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 Thomson Reuters’ consensus estimate of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts predict that Convergys Corporation will post $1.88 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, September 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. Convergys Corporation’s dividend payout ratio (DPR) is currently 28.37%.
In other news, Director Jeffrey H. Fox sold 43,609 shares of Convergys Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total value of $1,026,119.77. Following the completion of the sale, the director now directly owns 338,804 shares of the company’s stock, valued at approximately $7,972,058.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre S. Valentine sold 10,000 shares of Convergys Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVG. Victory Capital Management Inc. increased its stake in shares of Convergys Corporation by 53.9% in the 1st quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock valued at $135,000 after buying an additional 2,233 shares during the period. LS Investment Advisors LLC increased its stake in shares of Convergys Corporation by 17.8% in the 2nd quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock valued at $177,000 after buying an additional 1,125 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Convergys Corporation by 71.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,125 shares during the period. Flinton Capital Management LLC increased its stake in shares of Convergys Corporation by 69.1% in the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after buying an additional 3,444 shares during the period. Finally, Wayne Hummer Investments L.L.C. acquired a new stake in shares of Convergys Corporation in the 2nd quarter valued at $206,000. 98.72% of the stock is owned by institutional investors.
About Convergys Corporation
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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