Convergys Corporation (CVG) Rating Reiterated by Robert W. Baird
Convergys Corporation (NYSE:CVG)‘s stock had its “hold” rating reissued by research analysts at Robert W. Baird in a note issued to investors on Tuesday. They currently have a $28.00 target price on the business services provider’s stock. Robert W. Baird’s target price suggests a potential upside of 6.54% from the stock’s previous close.
Several other research firms also recently commented on CVG. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $26.00 price target on shares of Convergys Corporation in a research report on Monday, October 9th. Barrington Research assumed coverage on shares of Convergys Corporation in a research report on Tuesday, October 17th. They issued a “market perform” rating for the company. Finally, BidaskClub downgraded shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Convergys Corporation currently has an average rating of “Hold” and an average target price of $27.00.
Shares of Convergys Corporation (NYSE CVG) traded up 1.90% during midday trading on Tuesday, hitting $26.28. 596,043 shares of the stock traded hands. Convergys Corporation has a 52-week low of $20.15 and a 52-week high of $29.84. The stock has a 50-day moving average of $25.30 and a 200-day moving average of $23.99. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 18.56 and a beta of 1.05.
Convergys Corporation (NYSE:CVG) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. The firm had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Convergys Corporation’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts predict that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.
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In other Convergys Corporation news, CFO Andre S. Valentine sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total value of $235,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey H. Fox sold 43,609 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total transaction of $1,026,119.77. Following the completion of the transaction, the director now directly owns 338,804 shares in the company, valued at $7,972,058.12. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Convergys Corporation by 0.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock valued at $886,000 after buying an additional 112 shares during the period. Meeder Asset Management Inc. increased its stake in Convergys Corporation by 0.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 31,935 shares of the business services provider’s stock valued at $760,000 after buying an additional 126 shares during the period. Advantus Capital Management Inc increased its stake in Convergys Corporation by 2.0% in the 1st quarter. Advantus Capital Management Inc now owns 12,094 shares of the business services provider’s stock valued at $256,000 after buying an additional 241 shares during the period. BB&T Corp increased its stake in Convergys Corporation by 0.6% in the 2nd quarter. BB&T Corp now owns 51,243 shares of the business services provider’s stock valued at $1,218,000 after buying an additional 317 shares during the period. Finally, Texas Permanent School Fund increased its stake in Convergys Corporation by 0.5% in the 2nd quarter. Texas Permanent School Fund now owns 68,723 shares of the business services provider’s stock valued at $1,634,000 after buying an additional 332 shares during the period. 98.72% of the stock is currently owned by institutional investors.
About Convergys Corporation
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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