Todays Report: The UBS Asset Management Americas Inc. invests in Convergys Corp. (CVG) Shares

The UBS Asset Management Americas Inc. invests in Convergys Corp. (CVG) Shares

UBS Asset Management Americas Inc. boosted its position in Convergys Corp. (NYSE:CVG) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,284 shares of the company’s stock after buying an additional 4,610 shares during the period. UBS Asset Management Americas Inc. owned about 0.07% of Convergys Corp. worth $1,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CVG. LS Investment Advisors LLC increased its stake in Convergys Corp. by 72.8% in the second quarter. LS Investment Advisors LLC now owns 5,827 shares of the company’s stock worth $146,000 after buying an additional 2,455 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Convergys Corp. during the first quarter worth approximately $180,000. LMR Partners LLP purchased a new stake in Convergys Corp. during the second quarter worth approximately $201,000. Pacad Investment Ltd. purchased a new stake in Convergys Corp. during the first quarter worth approximately $267,000. Finally, Argent Capital Management LLC purchased a new stake in Convergys Corp. during the second quarter worth approximately $269,000. Institutional investors own 99.08% of the company’s stock.

Convergys Corp. (NYSE:CVG) traded up 0.07% during trading on Wednesday, reaching $29.20. The company had a trading volume of 17,406 shares. The company has a 50-day moving average price of $29.73 and a 200 day moving average price of $27.74. The stock has a market cap of $2.80 billion, a PE ratio of 17.10 and a beta of 0.99. Convergys Corp. has a 52-week low of $22.53 and a 52-week high of $30.92.

Convergys Corp. (NYSE:CVG) last released its earnings results on Monday, August 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Convergys Corp. had a return on equity of 15.02% and a net margin of 6.14%. The business had revenue of $692.30 million for the quarter, compared to the consensus estimate of $695.78 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Convergys Corp. will post $1.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 23rd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, September 21st. Convergys Corp.’s dividend payout ratio (DPR) is presently 20.93%.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Convergys Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday, August 10th. Citigroup Inc. boosted 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.00.

In related news, Director Jeffrey H. Fox sold 10,000 shares of Convergys Corp. stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $29.82, for a total transaction of $298,200.00. Following the sale, the director now directly owns 318,610 shares of the company’s stock, valued at $9,500,950.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Andre S. Valentine sold 9,000 shares of Convergys Corp. 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 sale, the chief financial officer now directly owns 80,137 shares in the company, valued at $2,368,849.72. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Convergys Corp. Company Profile

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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