LS Investment Advisors LLC boosted its position in Convergys Corp. (NYSE:CVG) by 72.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,827 shares of the company’s stock after buying an additional 2,455 shares during the period. LS Investment Advisors LLC’s holdings in Convergys Corp. were worth $146,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CVG. Nordea Investment Management AB boosted its stake in shares of Convergys Corp. by 275.7% in the second quarter. Nordea Investment Management AB now owns 22,977 shares of the company’s stock worth $574,000 after buying an additional 16,861 shares during the last quarter. Regentatlantic Capital LLC boosted its stake in shares of Convergys Corp. by 58.4% in the second quarter. Regentatlantic Capital LLC now owns 103,497 shares of the company’s stock worth $2,587,000 after buying an additional 38,165 shares during the last quarter. Highland Capital Management LLC purchased a new stake in shares of Convergys Corp. during the second quarter worth about $372,000. James Investment Research Inc. boosted its stake in shares of Convergys Corp. by 46.5% in the second quarter. James Investment Research Inc. now owns 296,080 shares of the company’s stock worth $7,402,000 after buying an additional 93,964 shares during the last quarter. Finally, Lathrop Investment Management Corp boosted its stake in shares of Convergys Corp. by 0.8% in the second quarter. Lathrop Investment Management Corp now owns 309,970 shares of the company’s stock worth $7,749,000 after buying an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 99.08% of the company’s stock.
Convergys Corp. (NYSE:CVG) traded up 0.86% during trading on Friday, reaching $30.42. The company’s stock had a trading volume of 594,789 shares. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 17.81 and a beta of 1.06. Convergys Corp. has a 52-week low of $22.53 and a 52-week high of $30.92. The stock’s 50-day moving average is $29.71 and its 200 day moving average is $27.58.
Convergys Corp. (NYSE:CVG) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm earned $692.30 million during the quarter, compared to the consensus estimate of $695.78 million. Convergys Corp. had a return on equity of 15.02% and a net margin of 6.14%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, analysts predict that Convergys Corp. will post $1.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 23rd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, September 21st. Convergys Corp.’s dividend payout ratio is currently 20.93%.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Convergys Corp. from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Monday, September 26th. Citigroup Inc. upped their price target on Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $31.00.
In related news, CFO Andre S. Valentine sold 9,000 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $29.56, for a total value of $266,040.00. Following the completion of the sale, the chief financial officer now directly owns 80,137 shares of the company’s stock, valued at approximately $2,368,849.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey H. Fox sold 65,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $29.55, for a total value of $1,920,750.00. Following the completion of the sale, the director now directly owns 338,610 shares of the company’s stock, valued at $10,005,925.50. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
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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