Convergys Corporation’s (CVG) “Hold” Rating Reiterated at SunTrust Banks, Inc.

Convergys Corporation (NYSE:CVG)‘s stock had its “hold” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Monday. They currently have a $26.00 price target on the business services provider’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 0.58% from the company’s previous close.

Several other equities research analysts also recently commented on CVG. BidaskClub downgraded Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a research note on Sunday, September 17th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.00.

Convergys Corporation (NYSE CVG) traded down 0.058% during midday trading on Monday, reaching $25.835. The company had a trading volume of 106,460 shares. The company has a 50-day moving average of $24.50 and a 200-day moving average of $23.54. The stock has a market capitalization of $2.41 billion, a PE ratio of 18.245 and a beta of 1.05. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.34.

Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping 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 business had revenue of $686.80 million for the quarter, compared to the consensus estimate of $687.91 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts predict that Convergys Corporation will post $1.88 EPS for the current fiscal year.

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In related news, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the completion of the sale, the director now owns 338,804 shares in the company, valued at $7,972,058.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the company’s 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 corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Convergys Corporation by 13,300.3% during the first quarter. BlackRock Inc. now owns 10,663,303 shares of the business services provider’s stock valued at $225,529,000 after acquiring an additional 10,583,728 shares during the last quarter. Vanguard Group Inc. increased its position in Convergys Corporation by 6.8% during the second quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock valued at $187,064,000 after acquiring an additional 503,693 shares during the last quarter. LSV Asset Management increased its position in Convergys Corporation by 3.0% during the second quarter. LSV Asset Management now owns 4,604,891 shares of the business services provider’s stock valued at $109,504,000 after acquiring an additional 132,200 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Convergys Corporation by 21.0% during the second quarter. Goldman Sachs Group Inc. now owns 3,699,927 shares of the business services provider’s stock valued at $87,985,000 after acquiring an additional 643,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in Convergys Corporation by 1.6% during the second quarter. Northern Trust Corp now owns 3,599,474 shares of the business services provider’s stock valued at $85,596,000 after acquiring an additional 57,522 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

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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