Wedge Capital Management L L P NC lowered its position in shares of Convergys Corporation (NYSE:CVG) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 1,952,120 shares of the business services provider’s stock after selling 6,671 shares during the period. Wedge Capital Management L L P NC’s holdings in Convergys Corporation were worth $46,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC raised its position in Convergys Corporation by 7.2% in the first quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock worth $106,000 after buying an additional 336 shares during the last quarter. Neuburgh Advisers LLC raised its position in Convergys Corporation by 7.2% in the first quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock worth $128,000 after buying an additional 408 shares during the last quarter. Victory Capital Management Inc. raised its position in Convergys Corporation by 53.9% in the first quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock worth $135,000 after buying an additional 2,233 shares during the last quarter. Bartlett & Co. LLC raised its position in Convergys Corporation by 19.8% in the first quarter. Bartlett & Co. LLC now owns 6,612 shares of the business services provider’s stock worth $140,000 after buying an additional 1,093 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in Convergys Corporation by 17.8% in the second quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after buying an additional 1,125 shares during the last quarter. 99.32% of the stock is owned by institutional investors and hedge funds.

Shares of Convergys Corporation (NYSE:CVG) opened at 23.54 on Friday. The stock’s 50 day moving average price is $23.90 and its 200-day moving average price is $23.27. The company has a market cap of $2.20 billion, a P/E ratio of 16.62 and a beta of 1.04. Convergys Corporation has a 12 month low of $20.15 and a 12 month high of $30.92.

Convergys Corporation (NYSE:CVG) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.07. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm had revenue of $686.80 million during the quarter, compared to analysts’ expectations of $687.91 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. Equities research analysts expect that Convergys Corporation will post $1.87 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 21st. Convergys Corporation’s dividend payout ratio is currently 28.37%.

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A number of research analysts have weighed in on the company. BidaskClub raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine lowered Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Finally, Zacks Investment Research raised Convergys Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.00.

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

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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