First Trust Advisors LP boosted its stake in shares of Convergys Corp (NYSE:CVG) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,948 shares of the business services provider’s stock after purchasing an additional 3,652 shares during the period. First Trust Advisors LP owned approximately 0.10% of Convergys worth $2,137,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CVG. Balter Liquid Alternatives LLC purchased a new stake in Convergys during the 4th quarter worth approximately $130,000. Teacher Retirement System of Texas purchased a new stake in Convergys during the 3rd quarter worth approximately $201,000. Crossmark Global Holdings Inc. purchased a new stake in Convergys during the 3rd quarter worth approximately $222,000. Victory Capital Management Inc. grew its position in Convergys by 27.0% during the 3rd quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock worth $247,000 after purchasing an additional 2,028 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Convergys during the 4th quarter worth approximately $256,000.
Shares of Convergys Corp (NYSE:CVG) opened at $23.73 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. Convergys Corp has a 12 month low of $20.15 and a 12 month high of $26.66. The company has a market cap of $2,180.52, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Friday, March 23rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, March 22nd. Convergys’s payout ratio is 32.79%.
In other Convergys news, CEO Andrea J. Ayers sold 30,000 shares of Convergys stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $23.25, for a total transaction of $697,500.00. Following the completion of the sale, the chief executive officer now directly owns 396,239 shares in the company, valued at approximately $9,212,556.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.
Several analysts have commented on CVG shares. Zacks Investment Research upgraded shares of Convergys from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. ValuEngine cut shares of Convergys from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Barrington Research restated a “hold” rating on shares of Convergys in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $26.00.
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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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