Convergys Corp Director Sells $147,985 in Stock (CVG)
Convergys Corp (NYSE:CVG) Director Joseph E. Gibbs unloaded 6,548 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $22.60, for a total value of $147,984.80. Following the transaction, the director now directly owns 37,214 shares in the company, valued at approximately $841,036. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CVG shares. Analysts at Macquarie raised their price target on shares of Convergys Corp from $20.00 to $25.00 in a research note on Thursday. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Convergys Corp in a research note on Wednesday. They now have a $23.00 price target on the stock, up previously from $21.00. Finally, analysts at Sidoti initiated coverage on shares of Convergys Corp in a research note on Wednesday, April 9th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.20.
Shares of Convergys Corp (NYSE:CVG) traded down 0.37% on Thursday, hitting $21.81. The stock had a trading volume of 989,587 shares. Convergys Corp has a 1-year low of $17.16 and a 1-year high of $24.43. The stock has a 50-day moving average of $21.72 and a 200-day moving average of $20.82. The company has a market cap of $2.198 billion and a P/E ratio of 38.95.
Convergys Corp (NYSE:CVG) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $589.31 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Analysts expect that Convergys Corp will post $1.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, June 17th. This is a positive change from Convergys Corp’s previous quarterly dividend of $0.06.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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