Convergys Corp (CVG) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP raised its holdings in Convergys Corp (NYSE:CVG) by 360.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 219,848 shares of the business services provider’s stock after acquiring an additional 172,121 shares during the quarter. Two Sigma Investments LP owned approximately 0.24% of Convergys worth $5,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. grew its position in Convergys by 27.0% in the 3rd quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after acquiring an additional 2,028 shares during the last quarter. Nordea Investment Management AB grew its position in Convergys by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 84,767 shares of the business services provider’s stock valued at $2,195,000 after acquiring an additional 2,236 shares during the last quarter. ING Groep NV grew its position in Convergys by 22.1% in the 4th quarter. ING Groep NV now owns 13,944 shares of the business services provider’s stock valued at $328,000 after acquiring an additional 2,520 shares during the last quarter. First Trust Advisors LP grew its position in Convergys by 4.2% in the 4th quarter. First Trust Advisors LP now owns 90,948 shares of the business services provider’s stock valued at $2,137,000 after acquiring an additional 3,652 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Convergys by 5.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 68,372 shares of the business services provider’s stock valued at $1,607,000 after acquiring an additional 3,725 shares during the last quarter.

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CVG stock opened at $22.17 on Friday. Convergys Corp has a 12-month low of $20.15 and a 12-month high of $26.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $2,098.98, a price-to-earnings ratio of 18.17, a PEG ratio of 1.51 and a beta of 0.98.

Convergys (NYSE:CVG) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Convergys had a return on equity of 13.71% and a net margin of 4.35%. The business had revenue of $689.40 million for the quarter, compared to the consensus estimate of $695.78 million. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was down 9.0% compared to the same quarter last year. research analysts forecast that Convergys Corp will post 1.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, March 22nd. Convergys’s payout ratio is 32.79%.

Several equities analysts have commented on CVG shares. Zacks Investment Research raised Convergys from a “sell” rating to a “hold” rating in a research report on Monday, January 15th. ValuEngine downgraded Convergys from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Barrington Research reissued a “hold” rating on shares of Convergys in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.00.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $23.25, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now owns 396,239 shares of the company’s stock, valued at approximately $9,212,556.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

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Convergys 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.

Institutional Ownership by Quarter for Convergys (NYSE:CVG)

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