Jeffrey H. Fox Sells 25,000 Shares of Convergys Corp (NYSE:CVG) Stock

Convergys Corp (NYSE:CVG) Director Jeffrey H. Fox sold 25,000 shares of Convergys stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Convergys Corp (NYSE CVG) traded down $0.17 during trading on Tuesday, reaching $24.12. The company had a trading volume of 631,351 shares, compared to its average volume of 744,784. Convergys Corp has a fifty-two week low of $20.15 and a fifty-two week high of $26.66. The company has a market capitalization of $2,235.45, a PE ratio of 12.94, a P/E/G ratio of 1.45 and a beta of 1.07. 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 data 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). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The firm had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s revenue 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. Stockholders of record on Friday, December 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 1.66%. The ex-dividend date is Thursday, December 21st. Convergys’s dividend payout ratio is presently 30.77%.

Several large investors have recently modified their holdings of the company. California Public Employees Retirement System boosted its holdings in shares of Convergys by 10.8% during the third quarter. California Public Employees Retirement System now owns 236,674 shares of the business services provider’s stock worth $6,127,000 after acquiring an additional 22,974 shares during the period. Vident Investment Advisory LLC boosted its holdings in shares of Convergys by 15.8% during the third quarter. Vident Investment Advisory LLC now owns 112,227 shares of the business services provider’s stock worth $2,906,000 after acquiring an additional 15,303 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Convergys by 173.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 118,600 shares of the business services provider’s stock worth $3,070,000 after acquiring an additional 75,300 shares during the period. Sirios Capital Management L P boosted its holdings in shares of Convergys by 5.5% during the third quarter. Sirios Capital Management L P now owns 517,827 shares of the business services provider’s stock worth $13,406,000 after acquiring an additional 26,771 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Convergys by 13.5% during the third quarter. Stifel Financial Corp now owns 325,141 shares of the business services provider’s stock worth $8,408,000 after acquiring an additional 38,780 shares during the period. Institutional investors own 98.72% of the company’s stock.

A number of research firms recently commented on CVG. Robert W. Baird reiterated a “hold” rating and set a $28.00 price target on shares of Convergys in a report on Tuesday, October 24th. BidaskClub upgraded Convergys from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Barrington Research began coverage on Convergys in a report on Tuesday, October 17th. They set a “market perform” rating for the company. Citigroup reduced their price target on Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Finally, SunTrust Banks reiterated a “hold” rating and set a $26.00 price target on shares of Convergys in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.00.

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About Convergys

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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