Mutual of America Capital Management LLC raised its position in shares of Convergys Corp. (NYSE:CVG) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 76,538 shares of the company’s stock after buying an additional 2,916 shares during the period. Mutual of America Capital Management LLC’s holdings in Convergys Corp. were worth $2,328,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. MSI Financial Services Inc increased its stake in Convergys Corp. by 37.5% in the third quarter. MSI Financial Services Inc now owns 3,364 shares of the company’s stock worth $102,000 after buying an additional 918 shares in the last quarter. Advisor Group Inc. acquired a new stake in Convergys Corp. during the second quarter worth about $109,000. 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 in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Convergys Corp. during the third quarter worth about $228,000. Finally, LMR Partners LLP acquired a new stake in Convergys Corp. during the second quarter worth about $201,000. 98.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Convergys Corp. (NYSE:CVG) traded up 0.77% during mid-day trading on Monday, hitting $26.05. 390,801 shares of the stock were exchanged. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 16.21 and a beta of 0.96. The stock’s 50-day moving average is $27.73 and its 200-day moving average is $27.89. Convergys Corp. has a 52 week low of $22.53 and a 52 week high of $30.92.
Convergys Corp. (NYSE:CVG) last announced its earnings results on Tuesday, November 8th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The company earned $741 million during the quarter, compared to the consensus estimate of $760.53 million. Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. Analysts forecast that Convergys Corp. will post $1.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 23rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $0.36 dividend on an annualized basis and a yield of 1.39%. Convergys Corp.’s dividend payout ratio (DPR) is presently 22.22%.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Convergys Corp. from a “hold” rating to a “strong sell” rating in a report on Friday, November 11th. Citigroup Inc. boosted their price objective on shares of Convergys Corp. from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Convergys Corp. currently has a consensus rating of “Hold” and a consensus price target of $31.00.
In related news, General Counsel Jarrod B. Pontius sold 1,111 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $24.50, for a total transaction of $27,219.50. Following the completion of the sale, the general counsel now owns 23,742 shares in the company, valued at $581,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph E. Gibbs sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $30.82, for a total transaction of $770,500.00. Following the sale, the director now owns 16,777 shares of the company’s stock, valued at approximately $517,067.14. 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.