Convergys Corp (CVG) Receives Average Rating of “Hold” from Brokerages

Convergys Corp (NYSE:CVG) has earned a consensus rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $26.00.

CVG has been the subject of several research reports. Zacks Investment Research raised Convergys from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine lowered Convergys from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. SunTrust Banks reissued a “hold” rating and set a $26.00 price objective on shares of Convergys in a report on Monday, October 9th. Robert W. Baird reissued a “hold” rating and set a $28.00 price objective on shares of Convergys in a report on Tuesday, October 24th. Finally, Barrington Research initiated coverage on Convergys in a report on Tuesday, October 17th. They set a “market perform” rating for the company.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total value of $724,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total value of $594,250.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Alpha Windward LLC boosted its holdings in shares of Convergys by 1,245.8% in the third quarter. Alpha Windward LLC now owns 21,843 shares of the business services provider’s stock worth $566,000 after acquiring an additional 20,220 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Convergys by 8.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 811,976 shares of the business services provider’s stock worth $21,023,000 after acquiring an additional 63,496 shares during the period. Teton Advisors Inc. raised its position in shares of Convergys by 31.2% in the third quarter. Teton Advisors Inc. now owns 33,920 shares of the business services provider’s stock worth $878,000 after buying an additional 8,070 shares in the last quarter. Stifel Financial Corp raised its position in shares of Convergys by 39.8% in the second quarter. Stifel Financial Corp now owns 286,361 shares of the business services provider’s stock worth $6,796,000 after buying an additional 81,490 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Convergys by 5.8% in the third quarter. Rhumbline Advisers now owns 221,863 shares of the business services provider’s stock worth $5,744,000 after buying an additional 12,209 shares in the last quarter.

Convergys (NYSE:CVG) opened at $22.90 on Tuesday. Convergys has a twelve month low of $20.15 and a twelve month high of $26.66. The firm has a market capitalization of $2,116.24, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.08. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25.

Convergys (NYSE:CVG) last announced its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Convergys had a net margin of 4.54% and a return on equity of 13.92%. The firm had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. During the same period last year, the company posted $0.46 earnings per share. Convergys’s revenue for the quarter was down 7.1% on a year-over-year basis. equities research analysts predict that Convergys will post 1.85 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Thursday, December 21st. Convergys’s payout ratio is currently 30.77%.

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Convergys Company Profile

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.

Analyst Recommendations for Convergys (NYSE:CVG)

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