Comerica Bank raised its stake in shares of Convergys Corp (NYSE:CVG) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,181 shares of the business services provider’s stock after purchasing an additional 48,049 shares during the period. Comerica Bank’s holdings in Convergys were worth $5,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVG. Vanguard Group Inc. lifted its holdings in Convergys by 6.8% during the second quarter. Vanguard Group Inc. now owns 7,866,455 shares of the business services provider’s stock valued at $187,064,000 after purchasing an additional 503,693 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Convergys by 7.7% during the second quarter. California Public Employees Retirement System now owns 213,700 shares of the business services provider’s stock valued at $5,082,000 after purchasing an additional 15,300 shares in the last quarter. State Street Corp lifted its holdings in Convergys by 5.2% during the second quarter. State Street Corp now owns 3,346,311 shares of the business services provider’s stock valued at $79,577,000 after purchasing an additional 164,978 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Convergys by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 207,437 shares of the business services provider’s stock valued at $4,933,000 after purchasing an additional 5,257 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Convergys by 1.6% during the second quarter. Ameritas Investment Partners Inc. now owns 36,097 shares of the business services provider’s stock valued at $858,000 after purchasing an additional 567 shares in the last quarter.

Convergys Corp (NYSE:CVG) opened at $21.47 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $1,988.71, a PE ratio of 11.51, a PEG ratio of 1.30 and a beta of 1.02. Convergys Corp has a 52 week low of $20.15 and a 52 week high of $26.66.

In other news, CEO Andrea J. Ayers sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $24.15, for a total value of $724,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey H. Fox sold 25,000 shares of Convergys stock in a transaction dated 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. Company insiders own 1.70% of the company’s stock.

Several equities analysts have recently weighed in on CVG shares. Zacks Investment Research downgraded shares of Convergys from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. ValuEngine downgraded shares of Convergys from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Robert W. Baird reissued a “hold” rating and issued a $28.00 price target on shares of Convergys in a research note on Tuesday, October 24th. Citigroup decreased their price target on shares of Convergys from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Finally, Barrington Research started coverage on shares of Convergys in a research note on Tuesday, October 17th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.00.

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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.

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Institutional Ownership by Quarter for Convergys (NYSE:CVG)

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