Convergys Corp (CVG) CEO Andrea J. Ayers Sells 30,000 Shares

Convergys Corp (NYSE:CVG) CEO Andrea J. Ayers sold 30,000 shares of the business’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 value of $724,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of Convergys Corp (NYSE:CVG) traded down $0.36 during mid-day trading on Thursday, hitting $23.76. 626,900 shares of the stock traded hands, compared to its average volume of 744,283. The firm has a market cap of $2,228.98, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. 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 Corp has a one year low of $20.15 and a one year high of $26.66.

Convergys (NYSE:CVG) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The company had revenue of $688.30 million during the quarter, compared to analyst estimates of $692.34 million. During the same period in the previous year, the company posted $0.46 earnings per share. Convergys’s revenue for the quarter was down 7.1% on a year-over-year basis. sell-side analysts predict that Convergys Corp will post 1.85 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.68%. Convergys’s dividend payout ratio is 30.77%.

Several brokerages have recently commented on CVG. Zacks Investment Research downgraded Convergys from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Citigroup dropped their price objective on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Robert W. Baird restated a “hold” rating and issued a $28.00 price objective on shares of Convergys in a research report on Tuesday, October 24th. Barrington Research assumed coverage on shares of Convergys in a research report on Tuesday, October 17th. They issued a “market perform” rating for the company. Finally, SunTrust Banks reiterated a “hold” rating and set a $26.00 target price on shares of Convergys in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.00.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Convergys by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock valued at $187,064,000 after purchasing an additional 503,693 shares during the period. LSV Asset Management raised its holdings in Convergys by 3.0% in the 2nd 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 period. Goldman Sachs Group Inc. raised its holdings in Convergys by 21.0% in the 2nd 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 period. Northern Trust Corp increased its holdings in shares of Convergys by 1.6% during the second quarter. Northern Trust Corp now owns 3,599,474 shares of the business services provider’s stock worth $85,596,000 after purchasing an additional 57,522 shares during the period. Finally, State Street Corp increased its holdings in shares of Convergys by 5.2% during the second quarter. State Street Corp now owns 3,346,311 shares of the business services provider’s stock worth $79,577,000 after purchasing an additional 164,978 shares during the period. Institutional investors own 98.72% of the company’s stock.

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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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