Vident Investment Advisory LLC increased its holdings in shares of Convergys Corp (NYSE:CVG) by 15.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,227 shares of the business services provider’s stock after acquiring an additional 15,303 shares during the quarter. Vident Investment Advisory LLC owned about 0.12% of Convergys worth $2,906,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Convergys by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 1,125 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Convergys 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 purchasing an additional 3,125 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Convergys in the 3rd quarter valued at about $201,000. Flinton Capital Management LLC boosted its holdings in Convergys 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 purchasing an additional 3,444 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Convergys in the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 98.72% of the company’s stock.
In other news, Director Jeffrey H. Fox sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $23.77, for a total value of $594,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrea J. Ayers sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total transaction of $724,500.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several equities analysts have weighed in on the stock. Robert W. Baird reiterated a “hold” rating and issued a $28.00 target price on shares of Convergys in a report on Tuesday, October 24th. ValuEngine lowered shares of Convergys from a “buy” rating to a “hold” rating in a report on Sunday. Barrington Research assumed coverage on shares of Convergys in a report on Tuesday, October 17th. They issued a “market perform” rating on the stock. Citigroup decreased their target price on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $26.00 target price on shares of Convergys in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Convergys presently has an average rating of “Hold” and an average price target of $26.00.
Convergys Corp (NYSE CVG) traded up $23.59 during trading on Tuesday, hitting $23.59. 469,500 shares of the stock were exchanged, compared to its average volume of 904,297. The stock has a market cap of $2,200.00, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. Convergys Corp has a twelve month low of $20.15 and a twelve month high of $26.66. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.25.
Convergys (NYSE:CVG) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $688.30 million during the quarter, compared to analysts’ expectations of $692.34 million. Convergys had a net margin of 4.54% and a return on equity of 13.92%. Convergys’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. equities research analysts forecast that Convergys Corp will post 1.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, December 21st. Convergys’s dividend payout ratio (DPR) 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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