ING Groep NV purchased a new position in shares of Convergys Corporation (NYSE:CVG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,452 shares of the business services provider’s stock, valued at approximately $272,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Convergys Corporation by 13,300.3% in the first quarter. BlackRock Inc. now owns 10,663,303 shares of the business services provider’s stock worth $225,529,000 after buying an additional 10,583,728 shares during the last quarter. Vanguard Group Inc. increased its stake in Convergys Corporation by 4.8% in the first quarter. Vanguard Group Inc. now owns 7,362,762 shares of the business services provider’s stock worth $155,723,000 after buying an additional 335,934 shares during the last quarter. State Street Corp increased its stake in Convergys Corporation by 3.5% in the first quarter. State Street Corp now owns 3,181,333 shares of the business services provider’s stock worth $67,284,000 after buying an additional 108,814 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Convergys Corporation by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,056,927 shares of the business services provider’s stock worth $64,654,000 after buying an additional 141,399 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Convergys Corporation by 20.5% in the first quarter. AQR Capital Management LLC now owns 2,968,936 shares of the business services provider’s stock worth $62,793,000 after buying an additional 505,311 shares during the last quarter. 99.32% of the stock is currently owned by institutional investors.

Shares of Convergys Corporation (NYSE:CVG) traded up 0.17% during midday trading on Friday, hitting $23.38. 173,659 shares of the stock traded hands. Convergys Corporation has a 12-month low of $20.15 and a 12-month high of $30.92. The company’s 50 day moving average price is $23.92 and its 200-day moving average price is $23.28. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 16.51 and a beta of 1.04.

Convergys Corporation (NYSE:CVG) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $686.80 million for the quarter, compared to analyst estimates of $687.91 million. Convergys Corporation had a net margin of 4.90% and a return on equity of 14.46%. Convergys Corporation’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities research analysts expect that Convergys Corporation will post $1.87 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.40 annualized dividend and a yield of 1.71%. Convergys Corporation’s dividend payout ratio (DPR) is currently 28.37%.

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CVG has been the topic of a number of recent research reports. BidaskClub downgraded shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. TheStreet raised shares of Convergys Corporation from a “c+” rating to a “b-” rating in a research note on Tuesday, May 23rd. Zacks Investment Research raised shares of Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, ValuEngine downgraded shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.00.

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