Convergys Corporation (CVG) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,979,515 to 4,468,846 shares, with 7 days to go before the expiry. The short open interest has decreased by -10.3%, amounting to a reduction of -510,669 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.7% of the float of the company. The average daily volume of the stock is 683,556 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Convergys Corporation (NYSE:CVG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.48 and $29.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.79, notching a gain of 0.74% for the day. The total traded volume was 528,977 . The stock had closed at $29.57 on the previous day.
In a related news,The director of Convergys Corp, Fox Jeffrey H sold 65,000 shares at $29.52 on August 16, 2016. The Insider selling transaction had a total value worth of $1,918,800. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Convergys Corporation (Convergys) provides customer management services. The Company serves brands in industries, such as communications and media, technology, financial services, retail and healthcare. The Company invests in a combination of global quality delivery, comprehensive solutions and close client engagement. The Company invests in solutions consisting of services, technology and analytics that support the life-cycle of contact types, including service, sales, retention and collections. Its analytics and consulting solutions are post-contact surveys, relational loyalty research, segmentation and profiling, repeat call analysis, agent path analysis, customer interaction assessment, chat optimization and integrated contact center analytics.