Convergys Corp (CVG) Stake Increased by Quantbot Technologies LP

Quantbot Technologies LP raised its stake in Convergys Corp (NYSE:CVG) by 150.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 112,323 shares of the business services provider’s stock after buying an additional 67,392 shares during the period. Quantbot Technologies LP owned 0.12% of Convergys Corp worth $2,375,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NN Investment Partners Holdings N.V. boosted its stake in Convergys Corp by 20.5% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 18,800 shares of the business services provider’s stock worth $462,000 after buying an additional 3,200 shares during the last quarter. ETRADE Capital Management LLC boosted its stake in Convergys Corp by 1.6% in the third quarter. ETRADE Capital Management LLC now owns 33,176 shares of the business services provider’s stock worth $1,009,000 after buying an additional 525 shares during the last quarter. Dean Investment Associates LLC boosted its stake in Convergys Corp by 3.5% in the third quarter. Dean Investment Associates LLC now owns 214,544 shares of the business services provider’s stock worth $6,526,000 after buying an additional 7,165 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Convergys Corp by 13.6% in the third quarter. Panagora Asset Management Inc. now owns 261,083 shares of the business services provider’s stock worth $7,942,000 after buying an additional 31,324 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Convergys Corp by 164.3% in the third quarter. Two Sigma Advisers LP now owns 149,836 shares of the business services provider’s stock worth $4,558,000 after buying an additional 93,143 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Convergys Corp (NYSE:CVG)

Convergys Corp (NYSE:CVG) traded up 0.33% during trading on Friday, reaching $24.00. The company’s stock had a trading volume of 522,226 shares. The company’s 50 day moving average price is $22.43 and its 200 day moving average price is $23.86. Convergys Corp has a 52 week low of $20.15 and a 52 week high of $30.92. The company has a market cap of $2.26 billion, a P/E ratio of 17.83 and a beta of 0.93.

Convergys Corp (NYSE:CVG) last released its quarterly earnings results on Monday, May 8th. The business services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Convergys Corp had a net margin of 5.78% and a return on equity of 14.87%. The business had revenue of $727.60 million for the quarter, compared to analysts’ expectations of $719.96 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts anticipate that Convergys Corp will post $1.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This is a boost from Convergys Corp’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.67%. Convergys Corp’s payout ratio is 22.22%.

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A number of analysts recently issued reports on the company. SunTrust Banks, Inc. cut Convergys Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. Zacks Investment Research raised Convergys Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 14th. TheStreet lowered Convergys Corp from a “b-” rating to a “c” rating in a report on Monday, April 3rd. Finally, Sidoti restated a “buy” rating on shares of Convergys Corp in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.50.

In related news, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $21.24, for a total transaction of $637,200.00. Following the transaction, the chief executive officer now directly owns 370,536 shares in the company, valued at $7,870,184.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

Convergys Corp Company Profile

Convergys Corporation is engaged in customer experience outsourcing. The Company’s geographical segments include North America and Rest of World. The Company offers services across industries, including communications and media, technology, financial services, retail, government and healthcare. The Company helps businesses to create customer experiences across multiple interaction channels, such as voice, chat, e-mail and interactive voice response.

12 Month Chart for NYSE:CVG

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