Cornercap Investment Counsel Inc. boosted its stake in shares of Convergys Corp. (NYSE:CVG) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 66,325 shares of the company’s stock after buying an additional 625 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Convergys Corp. were worth $1,629,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of CVG. FMR LLC increased its position in Convergys Corp. by 1,192.1% in the second quarter. FMR LLC now owns 1,098,300 shares of the company’s stock valued at $27,458,000 after buying an additional 1,013,300 shares during the last quarter. Bank of Montreal Can purchased a new position in Convergys Corp. during the second quarter valued at approximately $8,945,000. Skandinaviska Enskilda Banken AB publ purchased a new position in Convergys Corp. during the third quarter valued at approximately $10,836,000. Eaton Vance Management increased its position in Convergys Corp. by 1,316.7% in the third quarter. Eaton Vance Management now owns 317,345 shares of the company’s stock valued at $9,654,000 after buying an additional 294,945 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Convergys Corp. by 4.5% in the second quarter. Vanguard Group Inc. now owns 6,623,546 shares of the company’s stock valued at $165,589,000 after buying an additional 285,165 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors.
Shares of Convergys Corp. (NYSE:CVG) traded down 0.35% during midday trading on Thursday, hitting $25.70. The company had a trading volume of 500,701 shares. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.99 and a beta of 0.93. Convergys Corp. has a 12-month low of $22.94 and a 12-month high of $30.92. The company’s 50-day moving average price is $25.16 and its 200 day moving average price is $27.47.
Convergys Corp. (NYSE:CVG) last posted its earnings results on Tuesday, November 8th. The company reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The firm had revenue of $741 million for the quarter, compared to analysts’ expectations of $760.53 million. During the same quarter last year, the firm earned $0.45 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Convergys Corp. will post $1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 23rd were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, December 21st. This represents a $0.36 annualized dividend and a dividend yield of 1.40%. Convergys Corp.’s dividend payout ratio is currently 22.22%.
Separately, Zacks Investment Research downgraded Convergys Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.50.
In other Convergys Corp. news, CEO Andrea J. Ayers sold 30,000 shares of Convergys Corp. stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $25.04, for a total transaction of $751,200.00. Following the transaction, the chief executive officer now owns 333,181 shares of the company’s stock, valued at approximately $8,342,852.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jarrod B. Pontius sold 2,434 shares of Convergys Corp. stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $24.06, for a total transaction of $58,562.04. Following the transaction, the general counsel now directly owns 24,853 shares in the company, valued at approximately $597,963.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,545 shares of company stock worth $836,982. Insiders own 1.90% of the company’s stock.
About Convergys Corp.
Convergys Corporation is engaged in providing customer management services. The Company’s primary focus is on growth with multinational corporations and other companies in communications and media, financial services, technology, healthcare, retail and other vertical markets. Its segments include North America and Rest of World.
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