Convergys Corp. (CVG) Stake Held by Lathrop Investment Management Corp
Lathrop Investment Management Corp held its stake in Convergys Corp. (NYSE:CVG) during the third quarter, Holdings Channel reports. The fund owned 309,970 shares of the company’s stock at the end of the third quarter. Convergys Corp. comprises 2.4% of Lathrop Investment Management Corp’s portfolio, making the stock its 25th largest position. Lathrop Investment Management Corp’s holdings in Convergys Corp. were worth $7,749,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of CVG. MSI Financial Services Inc boosted 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 valued at $102,000 after buying an additional 918 shares during the last quarter. Advisor Group Inc. bought a new stake in Convergys Corp. during the second quarter valued at $109,000. LS Investment Advisors LLC boosted 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 valued at $146,000 after buying an additional 2,455 shares during the last quarter. LMR Partners LLP bought a new stake in Convergys Corp. during the second quarter valued at $201,000. Finally, Tower Research Capital LLC TRC boosted its stake in Convergys Corp. by 2,602.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,025 shares of the company’s stock valued at $226,000 after buying an additional 8,691 shares during the last quarter. Hedge funds and other institutional investors own 98.64% of the company’s stock.
Convergys Corp. (NYSE:CVG) traded up 1.38% on Tuesday, reaching $26.41. 264,622 shares of the company traded hands. The firm has a 50 day moving average of $27.73 and a 200-day moving average of $27.89. Convergys Corp. has a one year low of $22.53 and a one year high of $30.92. The stock has a market capitalization of $2.52 billion, a PE ratio of 16.43 and a beta of 0.96.
Convergys Corp. (NYSE:CVG) last posted its earnings results on Tuesday, November 8th. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. The firm earned $741 million during the quarter, compared to analysts’ expectations of $760.53 million. Convergys Corp. had a net margin of 5.78% and a return on equity of 14.87%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, analysts anticipate that Convergys Corp. will post $1.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 23rd will be issued a $0.09 dividend. The ex-dividend date is Wednesday, December 21st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.39%. Convergys Corp.’s dividend payout ratio (DPR) is currently 22.22%.
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Several research firms have weighed in on CVG. Zacks Investment Research cut shares of Convergys Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, November 11th. Citigroup Inc. lifted their price target on shares of Convergys Corp. from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.00.
In other news, Director Joseph E. Gibbs sold 25,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $30.82, for a total value of $770,500.00. Following the completion of the transaction, the director now owns 16,777 shares of the company’s stock, valued at $517,067.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jarrod B. Pontius sold 1,111 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $24.50, for a total transaction of $27,219.50. Following the completion of the transaction, the general counsel now directly owns 23,742 shares of the company’s stock, valued at approximately $581,679. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
About Convergys Corp.
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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