Barrington Research Begins Coverage on Convergys Corporation (CVG)

Barrington Research started coverage on shares of Convergys Corporation (NYSE:CVG) in a research note issued to investors on Tuesday morning. The brokerage issued a market perform rating on the business services provider’s stock. Barrington Research also issued estimates for Convergys Corporation’s Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $1.88 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.94 EPS and FY2019 earnings at $2.14 EPS.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Convergys Corporation from a sell rating to a hold rating in a report on Saturday, August 12th. Robert W. Baird reissued a hold rating on shares of Convergys Corporation in a report on Sunday, September 17th. Finally, SunTrust Banks, Inc. reissued a hold rating and issued a $26.00 price target on shares of Convergys Corporation in a report on Monday, October 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.00.

Convergys Corporation (NYSE CVG) traded up 1.1182% during trading on Tuesday, reaching $25.9975. 126,198 shares of the company’s stock traded hands. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 18.3598 and a beta of 1.06. The company’s 50 day moving average is $25.16 and its 200-day moving average is $23.87. Convergys Corporation has a 52-week low of $20.15 and a 52-week high of $30.10.

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

COPYRIGHT VIOLATION NOTICE: “Barrington Research Begins Coverage on Convergys Corporation (CVG)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/20/barrington-research-begins-coverage-on-convergys-corporation-cvg.html.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is 28.37%.

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

Hedge funds have recently bought and sold shares of the stock. Wayne Hummer Investments L.L.C. bought a new position in shares of Convergys Corporation in the second quarter worth approximately $206,000. AQR Capital Management LLC increased its position in shares of Convergys Corporation by 20.5% in the first quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock worth $62,793,000 after purchasing an additional 505,311 shares during the last quarter. State Street Corp increased its position in shares of Convergys Corporation by 3.5% in the first quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock worth $67,284,000 after purchasing an additional 108,814 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Convergys Corporation by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock worth $64,654,000 after purchasing an additional 141,399 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of Convergys Corporation by 11.4% in the second quarter. Foundry Partners LLC now owns 226,348 shares of the business services provider’s stock worth $5,383,000 after purchasing an additional 23,197 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Convergys Corporation Company Profile

Convergys Corporation is en

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Convergys Corporation from a sell rating to a hold rating in a report on Saturday, August 12th. Robert W. Baird reissued a hold rating on shares of Convergys Corporation in a report on Sunday, September 17th. Finally, SunTrust Banks, Inc. reissued a hold rating and issued a $26.00 price target on shares of Convergys Corporation in a report on Monday, October 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.00.

Convergys Corporation (NYSE CVG) traded up 1.1182% during trading on Tuesday, reaching $25.9975. 126,198 shares of the company’s stock traded hands. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 18.3598 and a beta of 1.06. The company’s 50 day moving average is $25.16 and its 200-day moving average is $23.87. Convergys Corporation has a 52-week low of $20.15 and a 52-week high of $30.10.

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

COPYRIGHT VIOLATION NOTICE: “Barrington Research Begins Coverage on Convergys Corporation (CVG)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/20/barrington-research-begins-coverage-on-convergys-corporation-cvg.html.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is 28.37%.

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

Hedge funds have recently bought and sold shares of the stock. Wayne Hummer Investments L.L.C. bought a new position in shares of Convergys Corporation in the second quarter worth approximately $206,000. AQR Capital Management LLC increased its position in shares of Convergys Corporation by 20.5% in the first quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock worth $62,793,000 after purchasing an additional 505,311 shares during the last quarter. State Street Corp increased its position in shares of Convergys Corporation by 3.5% in the first quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock worth $67,284,000 after purchasing an additional 108,814 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Convergys Corporation by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock worth $64,654,000 after purchasing an additional 141,399 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of Convergys Corporation by 11.4% in the second quarter. Foundry Partners LLC now owns 226,348 shares of the business services provider’s stock worth $5,383,000 after purchasing an additional 23,197 shares during the last quarter. Institutional investors own 98.72% of the company’s stock.

Convergys Corporation 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.

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