First Citizens Bank & Trust Co. raised its stake in shares of Convergys Corporation (NYSE:CVG) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 17,260 shares of the company’s stock after buying an additional 231 shares during the period. First Citizens Bank & Trust Co.’s holdings in Convergys Corporation were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MSI Financial Services Inc raised its position in Convergys Corporation 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. acquired a new position in Convergys Corporation during the second quarter valued at approximately $109,000. LS Investment Advisors LLC raised its position in Convergys Corporation 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. NJ State Employees Deferred Compensation Plan acquired a new position in Convergys Corporation during the third quarter valued at approximately $228,000. Finally, LMR Partners LLP acquired a new position in Convergys Corporation during the second quarter valued at approximately $201,000. 98.50% of the stock is owned by institutional investors and hedge funds.

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

Convergys Corporation (NYSE:CVG) traded up 1.58% on Friday, hitting $25.69. 312,017 shares of the stock traded hands. The firm’s 50-day moving average price is $25.20 and its 200-day moving average price is $27.42. Convergys Corporation has a 12-month low of $22.53 and a 12-month high of $30.92. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 15.99 and a beta of 0.93.

Convergys Corporation (NYSE:CVG) last announced its earnings results on Tuesday, November 8th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Convergys Corporation had a net margin of 5.78% and a return on equity of 14.87%. The firm earned $741 million during the quarter, compared to the consensus estimate of $760.53 million. During the same quarter in the previous year, the company posted $0.45 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts anticipate that Convergys Corporation will post $1.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 23rd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, December 21st. Convergys Corporation’s payout ratio is 22.22%.

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Separately, Zacks Investment Research lowered shares of Convergys Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Convergys Corporation has a consensus rating of “Hold” and an average price target of $31.50.

In related news, General Counsel Jarrod B. Pontius sold 2,434 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $24.06, for a total value of $58,562.04. Following the completion of the transaction, the general counsel now owns 24,853 shares of the company’s stock, valued at approximately $597,963.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $25.04, for a total transaction of $751,200.00. Following the completion of the transaction, the chief executive officer now directly owns 333,181 shares of the company’s stock, valued at approximately $8,342,852.24. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

About Convergys Corporation

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.

5 Day Chart for NYSE:CVG

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