Convergys Corporation (NYSE:CVG) Upgraded at BidaskClub

Convergys Corporation (NYSE:CVG) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued reports about the stock. TheStreet upgraded shares of Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. ValuEngine downgraded shares of Convergys Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Convergys Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of Convergys Corporation (NYSE CVG) opened at 23.54 on Friday. The stock’s 50 day moving average is $23.90 and its 200 day moving average is $23.27. Convergys Corporation has a 52-week low of $20.15 and a 52-week high of $30.92. The firm has a market capitalization of $2.20 billion, a PE ratio of 16.62 and a beta of 1.04.

Convergys Corporation (NYSE:CVG) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $686.80 million during 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%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. On average, equities research analysts forecast that Convergys Corporation will post $1.87 EPS for the current year.

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In related news, insider Taylor C. Greenwald sold 6,412 shares of Convergys Corporation stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey H. Fox sold 10,000 shares of Convergys Corporation stock in a transaction on Friday, June 2nd. The stock was 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 owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Flinton Capital Management LLC increased its position in shares of 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 valued at $106,000 after buying an additional 336 shares during the last quarter. Neuburgh Advisers LLC increased its position in shares of Convergys Corporation by 7.2% in the first quarter. Neuburgh Advisers LLC now owns 6,052 shares of the business services provider’s stock valued at $128,000 after buying an additional 408 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of 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 valued at $135,000 after buying an additional 2,233 shares during the last quarter. Bartlett & Co. LLC increased its position in shares of Convergys Corporation by 19.8% in the first quarter. Bartlett & Co. LLC now owns 6,612 shares of the business services provider’s stock valued at $140,000 after buying an additional 1,093 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of 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 valued at $177,000 after buying an additional 1,125 shares during the last quarter. 99.32% of the stock is currently owned by institutional investors.

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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