Legal & General Group Plc lifted its stake in shares of Convergys Corporation (NYSE:CVG) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,722 shares of the business services provider’s stock after purchasing an additional 11,948 shares during the period. Legal & General Group Plc owned 0.11% of Convergys Corporation worth $2,396,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVG. Victory Capital Management Inc. increased its stake in shares of Convergys Corporation by 53.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,373 shares of the business services provider’s stock worth $135,000 after purchasing an additional 2,233 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Convergys Corporation by 17.8% during the 2nd quarter. LS Investment Advisors LLC now owns 7,453 shares of the business services provider’s stock worth $177,000 after purchasing an additional 1,125 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Convergys Corporation during the 2nd quarter worth approximately $212,000. Cigna Investments Inc. New purchased a new stake in shares of Convergys Corporation during the 2nd quarter worth approximately $238,000. Finally, Koch Industries Inc. purchased a new stake in shares of Convergys Corporation during the 1st quarter worth approximately $244,000. Institutional investors own 98.72% of the company’s stock.

A number of research analysts recently weighed in on CVG shares. ValuEngine lowered shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Robert W. Baird reiterated a “hold” rating on shares of Convergys Corporation in a research note on Sunday, September 17th. Finally, BidaskClub upgraded shares of Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Convergys Corporation currently has a consensus rating of “Hold” and a consensus price target of $33.00.

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In other Convergys Corporation news, 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 transaction of $1,026,119.77. Following the completion of the sale, the director now directly owns 338,804 shares of the company’s stock, valued at $7,972,058.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andre S. Valentine sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $23.52, for a total transaction of $235,200.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Convergys Corporation (NYSE:CVG) opened at 25.03 on Friday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 17.68 and a beta of 1.03. The company has a 50-day moving average of $23.70 and a 200-day moving average of $23.15. Convergys Corporation has a 1-year low of $20.15 and a 1-year high of $30.57.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.40 dividend on an annualized basis and a yield of 1.60%. Convergys Corporation’s dividend payout ratio is currently 28.37%.

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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