Boston Partners raised its holdings in shares of Convergys Corp (NYSE:CVG) by 70.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 912,525 shares of the business services provider’s stock after purchasing an additional 377,481 shares during the period. Boston Partners’ holdings in Convergys were worth $21,444,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Flinton Capital Management LLC increased its stake in shares of Convergys by 69.1% during the second quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after purchasing an additional 3,444 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Convergys during the third quarter valued at approximately $201,000. Crossmark Global Holdings Inc. bought a new position in shares of Convergys during the third quarter valued at approximately $222,000. Victory Capital Management Inc. increased its stake in shares of Convergys by 27.0% during the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 2,028 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Convergys during the fourth quarter valued at approximately $256,000.
In other news, Director Jeffrey H. Fox sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $23.77, for a total transaction of $594,250.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrea J. Ayers sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total transaction of $724,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Convergys (NYSE:CVG) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Convergys had a net margin of 4.54% and a return on equity of 13.92%. The firm had revenue of $688.30 million for the quarter, compared to analysts’ expectations of $692.34 million. During the same quarter in the previous year, the company earned $0.46 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. sell-side analysts forecast that Convergys Corp will post 1.85 EPS for the current year.
A number of equities analysts have weighed in on the stock. Robert W. Baird reaffirmed a “hold” rating and set a $28.00 target price on shares of Convergys in a research note on Tuesday, October 24th. ValuEngine downgraded shares of Convergys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Convergys from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. Barrington Research assumed coverage on shares of Convergys in a research note on Tuesday, October 17th. They set a “market perform” rating for the company. Finally, Citigroup decreased their target price on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.00.
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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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