Insider Selling: Convergys Corp SVP Sells 3,000 Shares of Stock (CVG)
Convergys Corp (NYSE:CVG) SVP Michael L. Wooden sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $18.55, for a total transaction of $55,650.00. Following the completion of the sale, the senior vice president now directly owns 28,418 shares in the company, valued at approximately $527,154. The transaction was disclosed in a filing with the SEC, which is available at this link.
CVG has been the subject of a number of recent research reports. 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 company. The stock currently has an average rating of “Buy” and a consensus target price of $23.33.
Shares of Convergys Corp (NYSE:CVG) traded up 1.45% during mid-day trading on Thursday, hitting $18.94. 565,567 shares of the company’s stock traded hands. Convergys Corp has a 52-week low of $17.16 and a 52-week 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 $1.915 billion and a price-to-earnings ratio of 39.22.
Convergys Corp (NYSE:CVG) last released its earnings data 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. On average, analysts predict that Convergys Corp will post $1.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 3rd. Stockholders of record on Friday, September 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 1.50%. The ex-dividend date of this dividend is Wednesday, September 17th.
Convergys Corporation (NYSE:CVG) is engaged in customer management.
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