Texas Permanent School Fund lowered its position in shares of Convergys Corp (NYSE:CVG) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,467 shares of the business services provider’s stock after selling 5,632 shares during the quarter. Texas Permanent School Fund owned 0.07% of Convergys worth $1,468,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CVG. Teacher Retirement System of Texas acquired a new position in shares of Convergys in the third quarter valued at approximately $201,000. Flinton Capital Management LLC boosted its holdings in shares of Convergys by 69.1% in the second quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock valued at $200,000 after buying an additional 3,444 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Convergys in the third quarter valued at approximately $222,000. Victory Capital Management Inc. boosted its holdings in shares of Convergys by 27.0% in the third quarter. Victory Capital Management Inc. now owns 9,526 shares of the business services provider’s stock valued at $247,000 after buying an additional 2,028 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Convergys in the fourth quarter valued at approximately $256,000.
Shares of Convergys Corp (NYSE:CVG) traded up $0.16 during mid-day trading on Friday, hitting $23.15. 834,797 shares of the stock were exchanged, compared to its average volume of 1,429,363. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market capitalization of $2,139.34, a price-to-earnings ratio of 17.81, a PEG ratio of 1.40 and a beta of 1.02. Convergys Corp has a twelve month low of $20.15 and a twelve month high of $26.66.
In other news, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total value of $724,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.
CVG has been the subject of several research analyst reports. Robert W. Baird reiterated a “hold” rating and issued a $28.00 price target on shares of Convergys in a report on Tuesday, October 24th. Citigroup cut their price objective on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Zacks Investment Research lowered shares of Convergys from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Finally, ValuEngine lowered shares of Convergys from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Convergys currently has a consensus rating of “Hold” and a consensus target price of $26.00.
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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