Convergys Corp (NYSE:CVG) Short Interest increased by 5.16% - Shares Trading Down

Cornelia Mascio
Novembre 15, 2017

Accern also gave media coverage about the business services provider an impact score of 46.0780097719249 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company's share price in the next few days. California State Teachers Retirement System owned about 0.18% of Convergys Corporation worth $3,961,000 at the end of the most recent quarter.

A number of other equities research analysts have also weighed in on CVG. The value of the total investment in Convergys Corp went from $68,229,000 to $98,063,000 increasing 43.7% since the last quarter.

Raymond James & Associates expanded its ownership by buying 703 shares an increase of 3.1%. Foundry Partners LLC increased its holdings in Convergys Corporation by 11.4% in the 2nd quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider's stock worth $187,064,000 after buying an additional 503,693 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Convergys Corporation by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider's stock worth $178,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Convergys Corporation by 1.6% during the 2nd quarter. Citigroup Inc. now has a neutral rating on the business services provider's stock.

In related news, CFO Andre S. Valentine sold 10,000 shares of Convergys Corporation stock in a transaction dated Tuesday, August 15th.

Convergys Corporation (NYSE:CVG) last announced its earnings results on Tuesday, November 7th.

On October 17, 2017 Barrington Research issued a report on CVG setting a rating of "Market Perform". Traders will most likely be honing their strategies that they created, trying to beat the market over the next couple of months. Finally, Robert W. Baird reissued a hold rating on shares of Convergys Corporation in a report on Sunday, September 17th. On October 9 SunTrust Banks kept the stock rating at "Hold" with a current price target of $26.00. TRADEMARK VIOLATION NOTICE: This news story was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of USA & global copyright law. The stock was sold at an average price of $23.53, for a total value of $1,026,119.77. BlackRock Inc. now owns 79,006 shares of the company's stock worth $2,403,000 after buying an additional 24,966 shares in the last quarter. The sale was disclosed in a legal filing with the SEC, which is available at this link. Institutional investors and hedge funds own 94.06% of the company's stock.

Shares of Convergys Corporation (CVG) opened at $23.31 on Tuesday. The stock has a market cap of $2,170.00, a price-to-earnings ratio of 12.48, a PEG ratio of 1.33 and a beta of 1.11. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.25. The business services provider reported $0.42 EPS for the quarter, missing the Zacks' consensus estimate of $0.44 by ($0.02).

Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The business had revenue of $688.30 million for the quarter, compared to analysts' expectations of $692.34 million. During the same quarter a year ago, the firm posted $0.46 EPS. The firm's revenue for the quarter was down 7.1% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be issued a $0.10 dividend. A value between 0 to -20 would represent a strong overbought condition. The ex-dividend date is Thursday, December 21st. Convergys Corporation's payout ratio is 30.77%.

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