BlackRock Inc. cut its position in shares of Convergys Corp (NYSE:CVG) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,425,784 shares of the business services provider’s stock after selling 162,706 shares during the period. BlackRock Inc. owned about 11.28% of Convergys worth $245,006,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balter Liquid Alternatives LLC bought a new stake in shares of Convergys during the fourth quarter valued at approximately $130,000. Teacher Retirement System of Texas bought a new stake in shares of Convergys during the third quarter valued at approximately $201,000. Crossmark Global Holdings Inc. bought a new stake in shares of Convergys during the third quarter valued at approximately $222,000. Victory Capital Management Inc. increased its position in shares of Convergys by 27.0% during the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 2,028 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Convergys during the fourth quarter valued at approximately $256,000.
In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $23.25, for a total value of $697,500.00. Following the sale, the chief executive officer now directly owns 396,239 shares in the company, valued at $9,212,556.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Shares of Convergys Corp (CVG) opened at $23.58 on Tuesday. Convergys Corp has a 1 year low of $20.15 and a 1 year high of $26.66. The firm has a market capitalization of $2,149.37, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.66 and a quick ratio of 2.66.
Convergys (NYSE:CVG) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Convergys had a return on equity of 13.71% and a net margin of 4.35%. The firm had revenue of $689.40 million for the quarter, compared to analysts’ expectations of $695.78 million. During the same period in the prior year, the business posted $0.47 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. equities research analysts anticipate that Convergys Corp will post 1.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Friday, March 23rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, March 22nd. Convergys’s dividend payout ratio (DPR) is 32.79%.
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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