The Manufacturers Life Insurance Company raised its stake in shares of Convergys Corp (NYSE:CVG) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,000 shares of the business services provider’s stock after buying an additional 16,387 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Convergys were worth $5,194,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CVG. Aperio Group LLC raised its holdings in Convergys by 88.9% during the third quarter. Aperio Group LLC now owns 85,272 shares of the business services provider’s stock valued at $2,208,000 after buying an additional 40,125 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Convergys during the third quarter valued at about $222,000. Victory Capital Management Inc. raised its holdings in Convergys by 27.0% during the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after buying an additional 2,028 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Convergys by 8.9% during the third quarter. State Board of Administration of Florida Retirement System now owns 130,357 shares of the business services provider’s stock valued at $3,375,000 after buying an additional 10,630 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Convergys by 117.7% during the third quarter. American Century Companies Inc. now owns 64,484 shares of the business services provider’s stock valued at $1,669,000 after buying an additional 34,867 shares in the last quarter.
Convergys Corp (NYSE:CVG) opened at $23.46 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $2,149.36, a PE ratio of 12.55, a PEG ratio of 1.55 and a beta of 0.98. Convergys Corp has a 12 month low of $20.15 and a 12 month high of $26.66.
Convergys (NYSE:CVG) last posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $695.78 million. Convergys had a return on equity of 13.71% and a net margin of 4.35%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. research analysts predict that Convergys Corp will post 1.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. Convergys’s payout ratio is presently 32.79%.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Convergys from a “sell” rating to a “hold” rating in a report on Monday, January 15th. Barrington Research restated a “hold” rating on shares of Convergys in a report on Monday, February 26th. Finally, ValuEngine upgraded Convergys from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.
In other news, CEO Andrea J. Ayers sold 30,000 shares of Convergys stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $23.25, for a total value of $697,500.00. Following the transaction, the chief executive officer now directly owns 396,239 shares in the company, valued at $9,212,556.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.
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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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