Convergys (CVG) Stock Rating Reaffirmed by Barrington Research

Convergys (NYSE:CVG)‘s stock had its “hold” rating restated by Barrington Research in a research report issued to clients and investors on Monday. Barrington Research also issued estimates for Convergys’ Q2 2018 earnings at $0.36 EPS and Q4 2018 earnings at $0.47 EPS.

Several other equities analysts have also weighed in on CVG. ValuEngine lowered shares of Convergys from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of Convergys from a “hold” rating to a “strong sell” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Convergys currently has a consensus rating of “Hold” and a consensus target price of $26.25.

Convergys opened at $23.71 on Monday, according to MarketBeat Ratings. The stock has a market cap of $2.17 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.56 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.38 and a quick ratio of 2.38. Convergys has a fifty-two week low of $21.13 and a fifty-two week high of $26.66.

Convergys (NYSE:CVG) last posted its quarterly earnings results on Tuesday, May 8th. The business services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $674.00 million during the quarter, compared to analyst estimates of $669.28 million. Convergys had a net margin of 4.14% and a return on equity of 12.76%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. analysts predict that Convergys will post 1.69 earnings per share for the current year.

In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $23.25, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now owns 396,239 shares in the company, valued at $9,212,556.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in Convergys by 2.4% during the first quarter. Principal Financial Group Inc. now owns 484,464 shares of the business services provider’s stock worth $10,958,000 after purchasing an additional 11,281 shares during the period. Foundry Partners LLC boosted its position in Convergys by 6.6% during the first quarter. Foundry Partners LLC now owns 268,025 shares of the business services provider’s stock worth $6,063,000 after purchasing an additional 16,580 shares during the period. Millennium Management LLC boosted its position in Convergys by 169.0% during the first quarter. Millennium Management LLC now owns 533,322 shares of the business services provider’s stock worth $12,064,000 after purchasing an additional 335,092 shares during the period. Cubist Systematic Strategies LLC bought a new position in Convergys during the first quarter worth about $212,000. Finally, Element Capital Management LLC bought a new position in Convergys during the first quarter worth about $494,000.

About Convergys

Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, healthcare, government, travel and hospitality, and other vertical markets worldwide. The company offers solutions across the customer lifecycle, including sales, customer service, technical support, customer retention, and collection, as well as security, compliance, and fraud solutions; and solutions in contact center technology comprising omni-channel interaction, cross-channel integration framework, real-time decisioning engine, robotic process automation, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions.

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