New Amsterdam Partnersny buys $25.5 Million stake in Convergys Corp (CVG)

Convergys Corp (CVG) : New Amsterdam Partnersny scooped up 550,176 additional shares in Convergys Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 917,176 shares of Convergys Corp which is valued at $25.5 Million.Convergys Corp makes up approximately 2.83% of New Amsterdam Partnersny’s portfolio.

Other Hedge Funds, Including , Cipher Capital Lp boosted its stake in CVG in the latest quarter, The investment management firm added 74,608 additional shares and now holds a total of 87,777 shares of Convergys Corp which is valued at $2.4 Million. Convergys Corp makes up approx 0.23% of Cipher Capital Lp’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in CVG in the latest quarter, The investment management firm added 93,668 additional shares and now holds a total of 2,871,903 shares of Convergys Corp which is valued at $80 Million. Convergys Corp makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Wedge Capital Management L L Pnc reduced its stake in CVG by selling 345,609 shares or 14.42% in the most recent quarter. The Hedge Fund company now holds 2,051,658 shares of CVG which is valued at $53.8 Million. Convergys Corp makes up approx 0.56% of Wedge Capital Management L L Pnc’s portfolio. Hgk Asset Management Inc added CVG to its portfolio by purchasing 17,567 company shares during the most recent quarter which is valued at $465,526. Convergys Corp makes up approx 0.04% of Hgk Asset Management Inc’s portfolio.Huntington National Bank boosted its stake in CVG in the latest quarter, The investment management firm added 15,751 additional shares and now holds a total of 22,477 shares of Convergys Corp which is valued at $595,641. Convergys Corp makes up approx 0.02% of Huntington National Bank’s portfolio.

Convergys Corp closed down -0.12 points or -0.43% at $27.73 with 4,87,865 shares getting traded on Monday. Post opening the session at $27.8, the shares hit an intraday low of $27.39 and an intraday high of $27.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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