Russell Investments Group Ltd. lowered its holdings in Convergys Corp (NYSE:CVG) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,064 shares of the business services provider’s stock after selling 3,444 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Convergys worth $2,520,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of CVG. Wells Fargo & Company MN boosted its stake in Convergys by 52.7% in the first quarter. Wells Fargo & Company MN now owns 588,290 shares of the business services provider’s stock worth $13,307,000 after purchasing an additional 203,107 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Convergys by 63.8% in the first quarter. Victory Capital Management Inc. now owns 17,084 shares of the business services provider’s stock worth $386,000 after purchasing an additional 6,652 shares in the last quarter. Swiss National Bank boosted its stake in Convergys by 3.6% in the first quarter. Swiss National Bank now owns 162,200 shares of the business services provider’s stock worth $3,669,000 after purchasing an additional 5,600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Convergys by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 900,742 shares of the business services provider’s stock worth $20,375,000 after purchasing an additional 40,434 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in Convergys by 4.4% in the first quarter. Systematic Financial Management LP now owns 62,075 shares of the business services provider’s stock worth $1,404,000 after purchasing an additional 2,630 shares in the last quarter.

Shares of CVG opened at $24.72 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.13. Convergys Corp has a 12-month low of $21.13 and a 12-month high of $26.72. The firm has a market cap of $2.25 billion, a PE ratio of 14.89, a PEG ratio of 1.95 and a beta of 0.85.

Convergys (NYSE:CVG) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Convergys had a return on equity of 12.03% and a net margin of 3.24%. The business had revenue of $649.40 million for the quarter, compared to analyst estimates of $634.83 million. research analysts anticipate that Convergys Corp will post 1.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Friday, September 21st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 20th. Convergys’s dividend payout ratio (DPR) is presently 23.53%.

A number of research firms have commented on CVG. Zacks Investment Research raised Convergys from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Friday, August 17th. Barrington Research reissued a “hold” rating on shares of Convergys in a research note on Friday, June 29th. Finally, Citigroup boosted their price objective on Convergys from $24.00 to $26.50 and gave the stock a “neutral” rating in a research note on Friday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Convergys currently has an average rating of “Hold” and a consensus target price of $27.13.

About Convergys

Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, healthcare, government, travel and hospitality, and other vertical markets worldwide. The company offers solutions across the customer lifecycle, including sales, customer service, technical support, customer retention, and collection, as well as security, compliance, and fraud solutions; and solutions in contact center technology comprising omni-channel interaction, cross-channel integration framework, real-time decisioning engine, robotic process automation, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions.

Further Reading: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Convergys (NYSE:CVG)

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