Convergys Corporation (CVG) Given Average Rating of “Hold” by Brokerages
Shares of Convergys Corporation (NYSE:CVG) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.
A number of equities analysts have recently issued reports on the stock. SunTrust Banks, Inc. reissued a “hold” rating and set a $26.00 price objective on shares of Convergys in a research report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and set a $28.00 price objective on shares of Convergys in a research report on Tuesday, October 24th. Barrington Research started coverage on shares of Convergys in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. BidaskClub cut shares of Convergys from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of Convergys from a “hold” rating to a “sell” rating in a research report on Friday, November 10th.
In other Convergys news, Director Jeffrey H. Fox sold 43,609 shares of the 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 sale, the director now owns 338,804 shares in the company, valued at approximately $7,972,058.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey H. Fox sold 25,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $23.77, for a total transaction of $594,250.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. LS Investment Advisors LLC increased its stake in Convergys 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 last quarter. Victory Capital Management Inc. increased its stake in shares of Convergys by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock worth $178,000 after purchasing an additional 1,125 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Convergys by 71.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after purchasing an additional 3,125 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Convergys by 69.1% during the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after purchasing an additional 3,444 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Convergys during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.
Convergys (NYSE:CVG) opened at $23.71 on Monday. The stock has a market cap of $2,191.09, a PE ratio of 12.68, a PEG ratio of 1.42 and a beta of 1.11. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25. Convergys has a 1 year low of $20.15 and a 1 year high of $26.66.
Convergys (NYSE:CVG) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). The company had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. Convergys had a return on equity of 13.92% and a net margin of 4.54%. Convergys’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. research analysts forecast that Convergys will post 1.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a $0.10 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.69%. Convergys’s payout ratio is 30.77%.
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Convergys Company 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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