Insider Selling: Convergys Corp Director Unloads 6,701 Shares of Stock (CVG)
Convergys Corp (NYSE:CVG) Director Richard F. Wallman sold 6,701 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $10.33, for a total transaction of $69,221.33. Following the sale, the director now directly owns 37,023 shares of the company’s stock, valued at approximately $382,448. The sale was disclosed in a document filed with the SEC, which is available at this link.
Convergys Corp (NYSE:CVG) traded up 0.38% on Wednesday, hitting $18.67. The stock had a trading volume of 561,833 shares. Convergys Corp has a 1-year low of $17.16 and a 1-year high of $24.43. The stock’s 50-day moving average is $19.94 and its 200-day moving average is $20.90. The company has a market cap of $1.888 billion and a price-to-earnings ratio of 39.08.
Convergys Corp (NYSE:CVG) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.02. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $732.69 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 46.0% on a year-over-year basis. Analysts expect that Convergys Corp will post $1.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 3rd. Shareholders of record on Friday, September 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, September 17th.
A number of analysts have recently weighed in on CVG shares. Analysts at Macquarie reiterated a “neutral” rating on shares of Convergys Corp in a research note on Wednesday, August 13th. They now have a $23.00 price target on the stock, down previously from $25.00. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Convergys Corp in a research note on Wednesday, August 13th. They now have a $21.00 price target on the stock, down previously from $23.00. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Convergys Corp presently has an average rating of “Buy” and a consensus price target of $23.33.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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