Economy

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.

WARNING: This piece was first published by Equities Focus and is the property of of Equities Focus. If you are viewing this story on another publication, it was illegally stolen and republished in violation of US & global trademark & copyright law. The correct version of this article can be read at https://www.dispatchtribunal.com/2017/10/05/convergys-corporation-cvg-holdings-cut-by-ameriprise-financial-inc.html.

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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