Dean Capital Management Lowers stake in Convergys Corp (CVG)

Convergys Corp (CVG) : Dean Capital Management reduced its stake in Convergys Corp by 10.71% during the most recent quarter end. The investment management company now holds a total of 67,672 shares of Convergys Corp which is valued at $1.9 Million after selling 8,118 shares in Convergys Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.Convergys Corp makes up approximately 2.70% of Dean Capital Management’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds reduced its stake in CVG by selling 2,658 shares or 14.42% in the most recent quarter. The Hedge Fund company now holds 15,772 shares of CVG which is valued at $439,250.Systematic Financial Management Lp reduced its stake in CVG by selling 8,780 shares or 12.25% in the most recent quarter. The Hedge Fund company now holds 62,875 shares of CVG which is valued at $1.8 Million. Convergys Corp makes up approx 0.02% of Systematic Financial Management Lp’s portfolio.Amalgamated Bank boosted its stake in CVG in the latest quarter, The investment management firm added 1,016 additional shares and now holds a total of 11,050 shares of Convergys Corp which is valued at $307,743. Convergys Corp makes up approx 0.03% of Amalgamated Bank’s portfolio. Checchi Capital Advisers added CVG to its portfolio by purchasing 634 company shares during the most recent quarter which is valued at $16,636.Nordea Investment Management Ab boosted its stake in CVG in the latest quarter, The investment management firm added 1,097 additional shares and now holds a total of 6,116 shares of Convergys Corp which is valued at $162,074.

Convergys Corp opened for trading at $27 and hit $27.56 on the upside on Friday, eventually ending the session at $27.33, with a gain of 1.52% or 0.41 points. The heightened volatility saw the trading volume jump to 3,86,256 shares. Company has a market cap of $2,637 M.

On the company’s financial health, Convergys Corp reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.45. The company had revenue of $722.20 million for the quarter, compared to analysts expectations of $730.63 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Convergys Corp. Convergys Corp was Downgraded by Sidoti to ” Neutral” on Apr 4, 2016. Convergys Corp was Downgraded by Wells Fargo to ” Market Perform” on Feb 25, 2016.

Convergys Corporation (Convergys) provides customer management services. The Company serves brands in industries such as communications and media technology financial services retail and healthcare. The Company invests in a combination of global quality delivery comprehensive solutions and close client engagement. The Company invests in solutions consisting of services technology and analytics that support the life-cycle of contact types including service sales retention and collections. Its analytics and consulting solutions are post-contact surveys relational loyalty research segmentation and profiling repeat call analysis agent path analysis customer interaction assessment chat optimization and integrated contact center analytics.

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