Convergys (NYSE:CVG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Convergys Corporation is a global leader in relationship management. Convergys unique combination of domain expertise, operational excellence, and innovative technologies has delivered process improvement and actionable business insight to clients. Convergys Corporation delivers consistent, quality customer experiences in 58 languages and from more than 150 locations around the globe. Convergys partner with clients to improve customer loyalty, reduce costs, and generate revenue through an extensive portfolio of capabilities, including customer care, analytics, tech support, collections, home agent, and end-to-end selling. Convergys are committed to delighting clients and their customers, delivering value to shareholders, and creating opportunities for talented, caring employees in 33 countries around the world. “

Several other research firms have also recently weighed in on CVG. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 price objective on shares of Convergys in a research report on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and set a $28.00 price objective on shares of Convergys in a research report on Tuesday, October 24th. Barrington Research assumed coverage on Convergys in a research report on Tuesday, October 17th. They set a “market perform” rating on the stock. ValuEngine cut Convergys from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Citigroup cut their price objective on Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.00.

Convergys (NYSE CVG) traded up $0.20 during trading on Monday, reaching $22.90. The company’s stock had a trading volume of 1,522,000 shares, compared to its average volume of 1,018,600. 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 cap of $2,116.24, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.08. Convergys has a fifty-two week low of $20.15 and a fifty-two week high of $26.66.

Convergys (NYSE:CVG) last posted its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The firm had revenue of $688.30 million for the quarter, compared to the consensus estimate of $692.34 million. Convergys had a net margin of 4.54% and a return on equity of 13.92%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. equities analysts forecast that Convergys will post 1.85 EPS for the current year.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $24.15, for a total value of $724,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey H. Fox sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $23.77, for a total value of $594,250.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System raised its holdings in Convergys by 10.8% in the 3rd quarter. California Public Employees Retirement System now owns 236,674 shares of the business services provider’s stock worth $6,127,000 after acquiring an additional 22,974 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in Convergys by 15.8% in the 3rd quarter. Vident Investment Advisory LLC now owns 112,227 shares of the business services provider’s stock worth $2,906,000 after acquiring an additional 15,303 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Convergys by 173.9% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 118,600 shares of the business services provider’s stock worth $3,070,000 after acquiring an additional 75,300 shares during the last quarter. Sirios Capital Management L P raised its holdings in Convergys by 5.5% in the 3rd quarter. Sirios Capital Management L P now owns 517,827 shares of the business services provider’s stock worth $13,406,000 after acquiring an additional 26,771 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Convergys by 13.5% in the 3rd quarter. Stifel Financial Corp now owns 325,141 shares of the business services provider’s stock worth $8,408,000 after acquiring an additional 38,780 shares during the last quarter.

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Convergys 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.

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