Lenox Wealth Management Inc. bought a new stake in shares of Convergys Corporation (NYSE:CVG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,289 shares of the business services provider’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in Convergys Corporation by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 37,296 shares of the business services provider’s stock valued at $886,000 after buying an additional 112 shares during the period. Mason Street Advisors LLC raised its holdings in Convergys Corporation by 0.3% during the 1st quarter. Mason Street Advisors LLC now owns 44,625 shares of the business services provider’s stock valued at $944,000 after buying an additional 114 shares during the period. Meeder Asset Management Inc. raised its holdings in Convergys Corporation by 0.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 31,935 shares of the business services provider’s stock valued at $760,000 after buying an additional 126 shares during the period. Advantus Capital Management Inc raised its holdings in Convergys Corporation by 2.0% during the 1st quarter. Advantus Capital Management Inc now owns 12,094 shares of the business services provider’s stock valued at $256,000 after buying an additional 241 shares during the period. Finally, BB&T Corp raised its holdings in Convergys Corporation by 0.6% during the 2nd quarter. BB&T Corp now owns 51,243 shares of the business services provider’s stock valued at $1,218,000 after buying an additional 317 shares during the period. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Several research firms recently weighed in on CVG. BidaskClub lowered Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Robert W. Baird restated a “hold” rating on shares of Convergys Corporation in a report on Sunday, September 17th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold”.

Convergys Corporation (CVG) traded down 0.15% during mid-day trading on Friday, reaching $25.99. The company had a trading volume of 35,310 shares. The stock has a 50 day moving average of $24.42 and a 200 day moving average of $23.51. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.35 and a beta of 1.06. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.34.

Convergys Corporation (NYSE:CVG) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The business had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts anticipate that Convergys Corporation will post $1.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is presently 28.37%.

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In other news, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following the completion of the transaction, the director now directly owns 338,804 shares in the company, valued at approximately $7,972,058.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Convergys Corporation 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.

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

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