Shares of Convergys Corporation (NYSE:CVG) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company.
Several equities research analysts have weighed in on the company. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. ValuEngine downgraded Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded Convergys Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th.
In related 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 transaction of $235,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taylor C. Greenwald sold 6,412 shares of Convergys Corporation 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 disclosure for this sale can be found here. Insiders have sold 26,412 shares of company stock valued at $639,027 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CVG. Teachers Advisors LLC increased its stake in Convergys Corporation by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 157,749 shares of the business services provider’s stock worth $3,874,000 after buying an additional 9,015 shares during the period. Bank of Montreal Can increased its stake in Convergys Corporation by 333.5% in the first quarter. Bank of Montreal Can now owns 973,688 shares of the business services provider’s stock worth $20,594,000 after buying an additional 749,097 shares during the period. Louisiana State Employees Retirement System increased its stake in Convergys Corporation by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the business services provider’s stock worth $505,000 after buying an additional 300 shares during the period. Clark Estates Inc. NY purchased a new stake in Convergys Corporation during the first quarter worth approximately $2,623,000. Finally, First Citizens Bank & Trust Co. increased its stake in Convergys Corporation by 12.0% in the first quarter. First Citizens Bank & Trust Co. now owns 13,340 shares of the business services provider’s stock worth $282,000 after buying an additional 1,434 shares during the period. 98.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Convergys Corporation (CVG) traded up 0.43% during mid-day trading on Friday, hitting $23.30. 551,832 shares of the stock traded hands. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.92. The company has a market capitalization of $2.17 billion, a PE ratio of 16.45 and a beta of 1.04. The company’s 50-day moving average price is $23.72 and its 200 day moving average price is $23.14.
Convergys Corporation (NYSE:CVG) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.07. The business had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Equities research analysts forecast 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. Investors of record on Friday, September 22nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is 28.37%.
WARNING: “Convergys Corporation (CVG) Receives Consensus Rating of “Hold” from Analysts” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://stocknewstimes.com/2017/08/24/convergys-corporation-cvg-receives-consensus-rating-of-hold-from-analysts.html.
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.
Receive News & Ratings for Convergys Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Convergys Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
