Convergys Corp. CFO Unloads $184,900 in Stock (CVG)
Convergys Corp. (NYSE:CVG) CFO Andre Valentine unloaded 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.49, for a total transaction of $184,900.00. Following the completion of the transaction, the chief financial officer now directly owns 44,811 shares of the company’s stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Convergys Corp. (NYSE:CVG) from a “buy” rating to a “neutral” rating in a research note to investors on Friday, July 26th. They now have a GBX 21 ($0.33) price target on the stock, up previously from GBX 19.50 ($0.30). Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Convergys Corp. (NYSE:CVG) from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, July 9th. They now have a $18.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Convergys Corp. (NYSE:CVG) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 2nd. They now have a $19.60 price target on the stock.
Convergys Corp. (NYSE:CVG) traded up 0.38% during mid-day trading on Wednesday, hitting $18.48. The stock had a trading volume of 113,083 shares. Convergys Corp. has a 52-week low of $14.68 and a 52-week high of $19.91. The stock has a 50-day moving average of $18.74 and a 200-day moving average of $17.78. The company has a market cap of $1.917 billion and a P/E ratio of 19.30.
Convergys Corp. (NYSE:CVG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $504.00 million for the quarter, compared to the consensus estimate of $501.15 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Convergys Corp. will post $1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, September 18th.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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