Truepoint Lowers stake in Convergys Corp (CVG)

Convergys Corp (CVG) : Truepoint reduced its stake in Convergys Corp by 14.04% during the most recent quarter end. The investment management company now holds a total of 14,828 shares of Convergys Corp which is valued at $412,960 after selling 2,422 shares in Convergys Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.Convergys Corp makes up approximately 0.05% of Truepoint’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. boosted its stake in CVG in the latest quarter, The investment management firm added 17,600 additional shares and now holds a total of 34,100 shares of Convergys Corp which is valued at $949,685. Convergys Corp makes up approx 0.12% of Landscape Capital Management L.l.c.’s portfolio.Parkside Financial Bank Trust reduced its stake in CVG by selling 1 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 465 shares of CVG which is valued at $12,202. Convergys Corp makes up approx 0.01% of Parkside Financial Bank Trust’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.

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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