Wells Fargo & Company MN lifted its stake in Convergys Corp (NYSE:CVG) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 348,842 shares of the business services provider’s stock after purchasing an additional 23,181 shares during the period. Wells Fargo & Company MN owned 0.35% of Convergys worth $9,030,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Convergys by 17.7% in 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 period. Riverhead Capital Management LLC lifted its position in shares of Convergys by 71.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock worth $179,000 after purchasing an additional 3,125 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Convergys in the 3rd quarter worth about $201,000. Flinton Capital Management LLC lifted its position in shares of Convergys by 69.1% in the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after purchasing an additional 3,444 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Convergys in the 3rd quarter worth about $222,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

Convergys Corp (NYSE CVG) opened at $23.55 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.60 and a quick ratio of 2.60. The stock has a market cap of $2,192.94, a PE ratio of 18.12, a P/E/G ratio of 1.42 and a beta of 1.07. Convergys Corp has a 12 month low of $20.15 and a 12 month high of $26.66.

Convergys (NYSE:CVG) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The business had revenue of $688.30 million during the quarter, compared to the consensus estimate of $692.34 million. Convergys had a return on equity of 13.92% and a net margin of 4.54%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. analysts anticipate that Convergys Corp will post 1.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. Convergys’s payout ratio is 30.77%.

CVG has been the subject of several research analyst reports. Zacks Investment Research cut shares of Convergys from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $28.00 target price on shares of Convergys in a research report on Tuesday, October 24th. SunTrust Banks reaffirmed a “hold” rating and issued a $26.00 target price on shares of Convergys in a research report on Monday, October 9th. Citigroup dropped their target price on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Finally, Barrington Research began coverage on shares of Convergys in a research note on Tuesday, October 17th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.00.

In related news, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total value of $724,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 25,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $23.77, for a total transaction of $594,250.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

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Convergys 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.

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Institutional Ownership by Quarter for Convergys (NYSE:CVG)

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