Louisiana State Employees Retirement System boosted its stake in Convergys Corporation (NYSE:CVG) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 24,600 shares of the business services provider’s stock after buying an additional 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Convergys Corporation were worth $585,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stoneridge Investment Partners LLC purchased a new position in Convergys Corporation during the first quarter valued at $1,203,000. Great West Life Assurance Co. Can boosted its position in Convergys Corporation by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 56,632 shares of the business services provider’s stock valued at $1,197,000 after buying an additional 1,556 shares during the last quarter. Bowling Portfolio Management LLC boosted its position in Convergys Corporation by 18.4% in the first quarter. Bowling Portfolio Management LLC now owns 26,041 shares of the business services provider’s stock valued at $551,000 after buying an additional 4,050 shares during the last quarter. Wright Investors Service Inc. boosted its position in Convergys Corporation by 24.9% in the first quarter. Wright Investors Service Inc. now owns 11,960 shares of the business services provider’s stock valued at $253,000 after buying an additional 2,385 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Convergys Corporation during the first quarter valued at $6,491,000. Hedge funds and other institutional investors own 99.32% of the company’s stock.

Convergys Corporation (CVG) traded up 2.18% during trading on Wednesday, hitting $23.90. 423,132 shares of the stock traded hands. The company’s 50 day moving average is $23.99 and its 200 day moving average is $23.34. Convergys Corporation has a one year low of $20.15 and a one year high of $30.92. The company has a market capitalization of $2.25 billion, a P/E ratio of 17.76 and a beta of 1.04.

Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.07. The business had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a net margin of 4.67% and a return on equity of 14.24%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts forecast that Convergys Corporation will post $1.85 EPS for the current fiscal year.

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Several equities analysts have weighed in on the stock. ValuEngine cut shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet upgraded shares of Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. BidaskClub cut shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research cut shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Convergys Corporation presently has an average rating of “Hold” and an average price target of $31.50.

In related news, Director Jeffrey H. Fox sold 10,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $24.84, for a total value of $248,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Taylor C. Greenwald sold 6,412 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $24.24, for a total transaction of $155,426.88. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Convergys Corporation Company 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.

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

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