Systematic Financial Management LP lessened its stake in Convergys Corp (NYSE:CVG) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,045 shares of the business services provider’s stock after selling 8,665 shares during the period. Systematic Financial Management LP owned approximately 0.07% of Convergys worth $1,658,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. LS Investment Advisors LLC lifted its stake in shares of Convergys by 17.8% during the 2nd quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock valued at $177,000 after buying an additional 1,125 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Convergys by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 7,498 shares of the business services provider’s stock valued at $178,000 after buying an additional 1,125 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Convergys by 71.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,525 shares of the business services provider’s stock valued at $179,000 after buying an additional 3,125 shares in the last quarter. Flinton Capital Management LLC lifted its stake in shares of Convergys by 69.1% during the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after buying an additional 3,444 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Convergys during the 3rd quarter valued at $201,000. 98.72% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on CVG. Zacks Investment Research cut shares of Convergys from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Citigroup decreased their price target on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Robert W. Baird reiterated a “hold” rating and issued a $28.00 price target on shares of Convergys in a research note on Tuesday, October 24th. Barrington Research assumed coverage on shares of Convergys in a research note on Tuesday, October 17th. They issued a “market perform” rating on the stock. Finally, SunTrust Banks reiterated a “hold” rating and issued a $26.00 price target on shares of Convergys in a research note on Monday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.00.
Shares of Convergys Corp (NYSE CVG) opened at $24.12 on Wednesday. Convergys Corp has a fifty-two week low of $20.15 and a fifty-two week high of $26.66. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2,250.00, a PE ratio of 12.99, a PEG ratio of 1.46 and a beta of 1.07.
Convergys (NYSE:CVG) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Convergys had a return on equity of 13.92% and a net margin of 4.54%. The business had revenue of $688.30 million during the quarter, compared to the consensus estimate of $692.34 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 7.1% on a year-over-year basis. research analysts anticipate that Convergys Corp will post 1.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.40 annualized dividend and a yield of 1.66%. Convergys’s payout ratio is 30.77%.
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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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