Convergys Corp (CVG) Receives Consensus Recommendation of “Hold” from Brokerages

Convergys Corp (NYSE:CVG) has been assigned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

CVG has been the subject of several recent research reports. Zacks Investment Research lowered shares of Convergys from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Citigroup decreased their price objective on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, November 10th. Barrington Research started coverage on shares of Convergys in a report on Tuesday, October 17th. They issued a “market perform” rating for the company. ValuEngine lowered shares of Convergys from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Robert W. Baird restated a “hold” rating and issued a $28.00 price objective on shares of Convergys in a report on Tuesday, October 24th.

In related news, CEO Andrea J. Ayers sold 30,000 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $594,250.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of CVG. Teachers Advisors LLC grew its position in Convergys by 12.4% in the 2nd quarter. Teachers Advisors LLC now owns 184,131 shares of the business services provider’s stock worth $4,379,000 after purchasing an additional 20,374 shares during the period. Vanguard Group Inc. grew its position in Convergys by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock worth $187,064,000 after purchasing an additional 503,693 shares during the period. California Public Employees Retirement System grew its position in Convergys by 7.7% in the 2nd quarter. California Public Employees Retirement System now owns 213,700 shares of the business services provider’s stock worth $5,082,000 after purchasing an additional 15,300 shares during the period. Parametric Portfolio Associates LLC grew its position in Convergys by 22.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 365,307 shares of the business services provider’s stock worth $8,687,000 after purchasing an additional 67,485 shares during the period. Finally, Flinton Capital Management LLC grew its position in Convergys by 69.1% in the 2nd quarter. Flinton Capital Management LLC now owns 8,428 shares of the business services provider’s stock worth $200,000 after purchasing an additional 3,444 shares during the period.

Convergys (CVG) opened at $21.55 on Friday. Convergys has a 1-year low of $20.15 and a 1-year high of $26.66. The stock has a market cap of $1,997.03, a P/E ratio of 11.56, a PEG ratio of 1.30 and a beta of 1.02. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.25.

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About Convergys

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.

Analyst Recommendations for Convergys (NYSE:CVG)

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