Convergys Corporation’s (CVG) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their hold rating on shares of Convergys Corporation (NYSE:CVG) in a research note published on Monday morning. SunTrust Banks, Inc. currently has a $26.00 price objective on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reissued a hold rating on shares of Convergys Corporation in a research note on Sunday, September 17th. BidaskClub raised Convergys Corporation from a sell rating to a hold rating in a research note on Saturday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $26.00.

Convergys Corporation (NYSE CVG) opened at 25.85 on Monday. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.34. The company has a market capitalization of $2.41 billion, a PE ratio of 18.26 and a beta of 1.05. The firm’s 50-day moving average price is $24.58 and its 200 day moving average price is $23.62.

Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $687.91 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts expect that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Convergys Corporation’s (CVG) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/10/convergys-corporations-cvg-hold-rating-reaffirmed-at-suntrust-banks-inc.html.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. Convergys Corporation’s dividend payout ratio is currently 28.37%.

In other news, Director Jeffrey H. Fox sold 43,609 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total value of $1,026,119.77. Following the sale, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Convergys Corporation by 13,300.3% in the first quarter. BlackRock Inc. now owns 10,663,303 shares of the business services provider’s stock worth $225,529,000 after acquiring an additional 10,583,728 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Convergys Corporation by 6.8% in the second quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock worth $187,064,000 after acquiring an additional 503,693 shares during the last quarter. LSV Asset Management grew its stake in shares of Convergys Corporation by 3.0% in the second quarter. LSV Asset Management now owns 4,604,891 shares of the business services provider’s stock worth $109,504,000 after acquiring an additional 132,200 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Convergys Corporation by 21.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,699,927 shares of the business services provider’s stock worth $87,985,000 after acquiring an additional 643,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Convergys Corporation by 1.6% in the second quarter. Northern Trust Corp now owns 3,599,474 shares of the business services provider’s stock worth $85,596,000 after acquiring an additional 57,522 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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 offer

Other equities research analysts have also recently issued reports about the company. Robert W. Baird reissued a hold rating on shares of Convergys Corporation in a research note on Sunday, September 17th. BidaskClub raised Convergys Corporation from a sell rating to a hold rating in a research note on Saturday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $26.00.

Convergys Corporation (NYSE CVG) opened at 25.85 on Monday. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.34. The company has a market capitalization of $2.41 billion, a PE ratio of 18.26 and a beta of 1.05. The firm’s 50-day moving average price is $24.58 and its 200 day moving average price is $23.62.

Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm had revenue of $686.80 million for the quarter, compared to analysts’ expectations of $687.91 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts expect that Convergys Corporation will post $1.88 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Convergys Corporation’s (CVG) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/10/convergys-corporations-cvg-hold-rating-reaffirmed-at-suntrust-banks-inc.html.

The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. Convergys Corporation’s dividend payout ratio is currently 28.37%.

In other news, Director Jeffrey H. Fox sold 43,609 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $23.53, for a total value of $1,026,119.77. Following the sale, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andre S. Valentine sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Convergys Corporation by 13,300.3% in the first quarter. BlackRock Inc. now owns 10,663,303 shares of the business services provider’s stock worth $225,529,000 after acquiring an additional 10,583,728 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Convergys Corporation by 6.8% in the second quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock worth $187,064,000 after acquiring an additional 503,693 shares during the last quarter. LSV Asset Management grew its stake in shares of Convergys Corporation by 3.0% in the second quarter. LSV Asset Management now owns 4,604,891 shares of the business services provider’s stock worth $109,504,000 after acquiring an additional 132,200 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Convergys Corporation by 21.0% in the second quarter. Goldman Sachs Group Inc. now owns 3,699,927 shares of the business services provider’s stock worth $87,985,000 after acquiring an additional 643,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Convergys Corporation by 1.6% in the second quarter. Northern Trust Corp now owns 3,599,474 shares of the business services provider’s stock worth $85,596,000 after acquiring an additional 57,522 shares during the last quarter. 98.72% of the stock is currently owned by hedge funds and other 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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