Fort Washington Investment Advisors Inc. OH reduced its position in Convergys Corporation (NYSE:CVG) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,709,321 shares of the business services provider’s stock after selling 3,250 shares during the period. Convergys Corporation accounts for about 2.1% of Fort Washington Investment Advisors Inc. OH’s portfolio, making the stock its 8th largest position. Fort Washington Investment Advisors Inc. OH owned approximately 6.07% of Convergys Corporation worth $135,768,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVG. Louisiana State Employees Retirement System boosted its holdings in shares of Convergys Corporation by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the business services provider’s stock valued at $505,000 after buying an additional 300 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Convergys Corporation by 1.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 34,038 shares of the business services provider’s stock valued at $720,000 after buying an additional 500 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Convergys Corporation by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 245,225 shares of the business services provider’s stock valued at $5,186,000 after buying an additional 8,032 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Convergys Corporation by 2.8% in the 1st 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 in the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in shares of Convergys Corporation by 7.2% in the 1st quarter. Flinton Capital Management LLC now owns 4,984 shares of the business services provider’s stock valued at $106,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

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A number of research firms have recently weighed in on CVG. ValuEngine cut shares of Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Convergys Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, TheStreet upgraded shares of Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.00.

Convergys Corporation (CVG) traded down 0.08% during mid-day trading on Wednesday, reaching $24.30. 104,374 shares of the company were exchanged. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.57. The stock has a 50-day moving average of $23.60 and a 200 day moving average of $23.04. The firm has a market capitalization of $2.27 billion, a P/E ratio of 17.16 and a beta of 1.03.

Convergys Corporation (NYSE:CVG) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $686.80 million during the quarter, compared to the consensus estimate of $687.91 million. Convergys Corporation had a return on equity of 14.46% and a net margin of 4.90%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. Equities research analysts forecast that Convergys Corporation will post $1.88 earnings per share for the current year.

The firm also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, September 21st. Convergys Corporation’s dividend payout ratio (DPR) is 28.37%.

In related news, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $23.52, for a total value of $235,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey H. Fox sold 43,609 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $23.53, for a total value of $1,026,119.77. Following the completion of the transaction, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

About Convergys Corporation

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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