Wellington Management Group LLP raised its position in shares of Convergys Corporation (NYSE:CVG) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,649 shares of the business services provider’s stock after buying an additional 11,916 shares during the period. Wellington Management Group LLP owned 0.17% of Convergys Corporation worth $3,461,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flinton Capital Management LLC raised 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 worth $106,000 after buying an additional 336 shares during the period. Neuburgh Advisers LLC raised 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. raised 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 raised 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, Wright Investors Service Inc. raised its position in shares of Convergys Corporation by 24.9% in the first quarter. Wright Investors Service Inc. now owns 11,960 shares of the business services provider’s stock valued at $253,000 after buying an additional 2,385 shares during the last quarter. 99.32% of the stock is owned by hedge funds and other institutional investors.

Convergys Corporation (NYSE:CVG) traded down 0.76% on Tuesday, reaching $23.39. 884,536 shares of the company were exchanged. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 17.38 and a beta of 1.04. Convergys Corporation has a 52 week low of $20.15 and a 52 week high of $30.92. The stock has a 50-day moving average price of $23.99 and a 200 day moving average price of $23.34.

Convergys Corporation (NYSE:CVG) last issued its quarterly earnings results on Monday, May 8th. The business services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.07. Convergys Corporation had a net margin of 4.67% and a return on equity of 14.24%. The company had revenue of $727.60 million during the quarter, compared to the consensus estimate of $719.96 million. During the same period in the prior year, the company earned $0.50 EPS. Convergys Corporation’s revenue was up .7% on a year-over-year basis. Analysts forecast that Convergys Corporation will post $1.85 earnings per share for the current year.

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Several equities analysts recently issued reports on the stock. BidaskClub lowered shares of Convergys Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. ValuEngine lowered shares of Convergys Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. TheStreet raised shares of Convergys Corporation from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded shares of Convergys Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.50.

In other Convergys Corporation news, insider Taylor C. Greenwald sold 6,412 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $24.24, for a total transaction of $155,426.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey H. Fox sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were 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 currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Convergys Corporation (NYSE:CVG)

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