Convergys Corporation (NYSE:CVG) Sees Unusual Trading Volume in Its Shares

In current trading day Convergys Corporation (CVG) stock confirmed the flow of -0.69% with the final price of $25.85. Alliancebernstein L.P. now owns 2,869,183 shares of the business services provider's stock valued at $68,229,000 after acquiring an additional 2,629,363 shares during the period. Can increased its stake in Convergys Corporation by 2.8% during the 1st quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Can now owns 56,632 shares of the business services provider's stock worth $1,197,000 after acquiring an additional 1,556 shares during the period. New York State Common Retirement Fund raised its stake in shares of Convergys Corp by 12.9% in the third quarter. Riverhead Capital Management LLC boosted its holdings in shares of Convergys Corporation by 71.0% in the second quarter. Gotham Asset Management LLC now owns 168,758 shares of the business services provider's stock worth $4,013,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Convergys Corporation in the second quarter valued at approximately $212,000. California State Teachers Retirement System now owns 188,378 shares of the business services provider's stock worth $5,730,000 after buying an additional 1,500 shares during the last quarter. Vident Investment Advisory, LLC now owns 96,924 shares with a value of $2,305,000. Insiders own 1.70% of the company's stock. The firm realized a rise in short interest of 1.68% as of September 15, 2017 from the last reporting period. Zacks downgraded the shares of IO in report on Thursday, September 3 to "Sell" rating. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10,000 shares were sold by FOX JEFFREY H, worth $248,377. The stock was sold at an average price of $23.53, for a total transaction of $1,026,119.77. Wells Fargo & Company MN now owns 325,661 shares of the business services provider's stock valued at $7,745,000 after acquiring an additional 80,436 shares during the period. The disclosure for this sale can be found here.

According to Zacks brokerage recommendations, Convergys Corporation (NYSE:CVG)'s Buy count is 0 and Strong Buy is 0 while the number of analysts recommending Sell and Strong Sell are 0 and 3, respectively.

1,384K shares changed hands on Friday. If the Golden Cross is greater than 1, then the 50 day moving average is above the 200 day moving average - indicating a positive share price momentum.

The company's P/E ratio is 18.29 and market cap is 2.42B. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.34.

Convergys Corporation (NYSE:CVG) soared 5.99% year-to-date. The business services provider reported $0.46 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.39 by $0.07. The company had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. Convergys Corp had a return on equity of 14.87% and a net margin of 5.78%. Leverage ratio is the total debt of a company divided by total assets of the current and past year divided by two. During the same period in the prior year, the firm earned $0.41 earnings per share. They expect $0.44 earnings per share, down 4.35% or $0.02 from last year's $0.46 per share. Investors of record on Friday, September 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. Convergys Corp's dividend payout ratio (DPR) is now 22.22%.

Several equities research analysts have recently weighed in on CVG shares. BidaskClub downgraded Convergys Corporation from a "hold" rating to a "sell" rating in a report on Tuesday, August 1st.

Among 6 analysts covering Convergys Corp (NYSE:CVG), 0 have Buy rating, 0 Sell and 6 Hold.

Among 10 analysts covering Interserve (LON:IRV), 6 have Buy rating, 0 Sell and 4 Hold. Robert W. Baird reaffirmed a "hold" rating on shares of Convergys Corporation in a research note on Sunday, September 17th.

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The collective rating of 2.6 for Convergys Corporation (NYSE:CVG) also leans strongly towards the neutral end of the spectrum. The Company's geographical segments include North America and Rest of World.

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