Saturna Capital CORP decreased its stake in Convergys Corp (NYSE:CVG) by 22.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,383 shares of the business services provider’s stock after selling 100,000 shares during the period. Saturna Capital CORP owned approximately 0.38% of Convergys worth $9,097,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CVG. Teachers Advisors LLC boosted its position in shares of Convergys by 3.8% in the first quarter. Teachers Advisors LLC now owns 163,757 shares of the business services provider’s stock worth $3,463,000 after buying an additional 6,008 shares during the period. LS Investment Advisors LLC boosted its position in shares of Convergys 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 buying an additional 1,125 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Convergys by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 24,600 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 700 shares during the last quarter. Aperio Group LLC boosted its holdings in Convergys by 13.0% in the second quarter. Aperio Group LLC now owns 45,147 shares of the business services provider’s stock valued at $1,074,000 after purchasing an additional 5,190 shares during the last quarter. Finally, State Treasurer State of Michigan boosted its holdings in Convergys by 1.0% in the second quarter. State Treasurer State of Michigan now owns 38,800 shares of the business services provider’s stock valued at $923,000 after purchasing an additional 400 shares during the last quarter. 98.72% of the stock is owned by institutional investors.
In other Convergys news, Director Jeffrey H. Fox sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total transaction of $594,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Shares of Convergys Corp (NYSE:CVG) traded down $0.17 on Wednesday, reaching $24.12. The company had a trading volume of 631,300 shares, compared to its average volume of 744,784. The stock has a market capitalization of $2,250.00, a P/E ratio of 12.99, a P/E/G ratio of 1.46 and a beta of 1.07. Convergys Corp has a 1 year low of $20.15 and a 1 year high of $26.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.60 and a quick ratio of 2.60.
Convergys (NYSE:CVG) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Convergys had a net margin of 4.54% and a return on equity of 13.92%. The business had revenue of $688.30 million during the quarter, compared to analysts’ expectations of $692.34 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. sell-side analysts anticipate that Convergys Corp will post 1.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, December 21st. Convergys’s payout ratio is currently 30.77%.
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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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