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Convergys Corporation
Type
Public
Traded as NYSE: CVG
S&P 400 Component
Industry Customer Management
Information Management
Outsourcing
Consulting
Professional Services
Founded 1998 (1998)
Headquarters Cincinnati, Ohio, United States
Number of locations
150
Key people
  • Andrea Ayers (CEO))
  • Andre S. Valentine (CFO)
  • Claudia Cline (Exec VP/General Counsel)
  • Michael L Wooden (CCO)
  • Marjorie Connelly (COO)
Products Infinys Rating and Billing (IRB), Dynamic Decisioning Solution (DDS), ICOMS, Customer Management, Solutions etc.
Revenue Increase $ 2.951 billion  (2015)
Operating income
Increase $ 194.4 million (2015)
Net income
Increase $ 169 million (2015)
Total assets Decrease $ 2.358 billion (2015)
Total equity Increase $ 1.276 billion (2015)
Number of employees
130,000 (2015)
Website www.convergys.com

Convergys Corporation is a corporation based in Cincinnati, Ohio, that sells customer management and information management products, primarily to large corporations. Customer management products include agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provides convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They have approximately 130,000 employees across 33 countries.

The company grew from Cincinnati Bell Information Systems and MATRIXX, both subsidiaries of Cincinnati Bell, and AT&T Solutions Customer Care (formerly AT&T American Transtech), which was sold to Cincinnati Bell in 1998; an IPO in August 1998 made it a fully independent company. Since then, Convergys' headquarters in Cincinnati, Ohio, has acquired numerous companies.

In 2004, Convergys bought DigitalThink for $120 million. DigitalThink helped Convergys expand its human resources outsourcing business.

Convergys acquired Intervoice, a Dallas-based telecommunications company, in 2008 for $335 million.

Convergys sold its Human Resources Management line of business to NorthgateArinso in March 2010.

On March 22, 2012, Japanese technology firm NEC announced it would buy the Information Management Business of Convergys for approximately $449 million. In 2012, Convergys Philippines, 8 years after its entry into the country established 18 centers with 26,000 employees in all, was named “BPO Employer of the Year” at the annual International ICT Awards.

On April 3, 2013, Convergys completed the acquisition of New Zealand-based Datacom call center operations in Kuala Lumpur and Manila for $20 million.

On January 6, 2014, Convergys and Stream Global Services announced entry into a definitive merger. Under the agreement, Convergys would acquire Stream for a total enterprise value of $820 million in cash. On March 3, 2014, Convergys completed the acquisition of Stream creating the 2nd largest BPO provider in the outsourcing industry. The merger brought their total employees to approximately 125,000 with 150 centers in 31 countries supporting 47 languages.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2018 2018-11-05 Future report Set alerts
Q2 2018 2018-08-07 0.36 0.14
Q1 2018 2018-05-08 0.41 0.30
Q4 2017 2018-02-21 0.47 0.09
Q3 2017 2017-11-07 0.42 0.35
Q2 2017 2017-08-08 0.46 0.40
Q1 2017 2017-05-08 0.52 0.38
Q4 2016 2017-02-22 0.47 0.18
Q3 2016 2016-11-08 0.46 0.36
Q2 2016 2016-08-08 0.41 0.32

Ratings

2016-06-01 Upgrade Sidoti Neutral to Buy
2016-05-16 Reiterated Rating Robert W. Baird Hold
2016-04-04 Downgrade Sidoti Buy to Neutral
2016-02-25 Downgrade Wells Fargo Outperform to Market Perform
2016-02-25 Downgrade Wells Fargo & Co. Outperform to Market Perform
2016-01-06 Upgrade Sidoti Neutral to Buy $30.00
2015-10-21 Downgrade Sidoti Buy to Neutral
2015-05-07 Reiterated Rating Citigroup Inc. Hold $22.50 to $23.50
2015-02-20 Reiterated Rating Citigroup Inc. Hold $22.00 to $22.50
2015-01-09 Boost Price Target Citigroup Inc. Neutral $21.00 to $22.00
2014-08-13 Reiterated Rating Macquarie Neutral $25.00 to $23.00
2014-08-13 Reiterated Rating Citigroup Inc. Neutral $23.00 to $21.00
2014-05-15 Boost Price Target Macquarie $20.00 to $25.00
2014-05-14 Reiterated Rating Citigroup Inc. Hold $21.00 to $23.00
2014-04-09 Initiated Coverage Sidoti Buy
2014-03-24 Initiated Coverage SunTrust Buy $26.00
2013-12-30 Upgrade Ned Davis Research Neutral to Buy
2012-08-16 Downgrade Oppenheimer Outperform to Perform $16
2012-08-10 Downgrade Robert W. Baird Outperform to Neutral $17
2012-03-23 Downgrade Stifel Nicolaus Buy to Hold
2011-08-29 Reiterated Oppenheimer Outperform $16 to $14
2011-01-24 Reiterated Stifel Nicolaus Buy $14 to $17
2011-01-18 Upgrade Robert W. Baird Neutral to Outperform $13 to $17
2010-11-09 Reiterated Wedbush Underperform $10 to $10.50
2010-08-11 Upgrade Stifel Nicolaus Hold to Buy $13
2010-08-03 Downgrade Stifel Nicolaus Buy to Hold
2010-03-04 Downgrade Kaufman Bros Hold to Sell $11
2010-02-11 Upgrade Stifel Nicolaus Hold to Buy $13.50
2009-10-05 Upgrade Citigroup Hold to Buy
2009-07-30 Reiterated Wedbush Morgan Underperform $9 to $9.50
2009-01-28 Reiterated Wedbush Morgan Hold $8 to $9
2008-11-25 Reiterated Brean Murray Buy $10
2008-10-29 Reiterated Wedbush Morgan Hold $13 to $8
2008-10-29 Reiterated Kaufman Bros Hold $14 to $9
2008-10-27 Reiterated Brean Murray Buy $18 to $13
2016-06-01 Upgrade Sidoti Neutral to Buy
2016-05-16 Reiterated Rating Robert W. Baird Hold
2016-04-04 Downgrade Sidoti Buy to Neutral
2016-02-25 Downgrade Wells Fargo Outperform to Market Perform
2016-02-25 Downgrade Wells Fargo & Co. Outperform to Market Perform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Ayers Andrea J. President & CEO 0.37%  (374358) CVG / SWH /
FOX JEFFREY H 0.30%  (305195) CAR / CVG / EIGI / HAWK /
Valentine Andre S Chief Financial Officer 0.11%  (112213) CVG /
BARRETT JOHN F 0.10%  (98124) CTAS / CVG /
Connelly Marjorie Mary COO 0.09%  (92587) CVG / PRAA /
NELSON RONALD L 0.09%  (90144) CAR / CVG / HBI / VIAB /
Goetz James A CIO 0.07%  (75661) CVG /
Pontius Jarrod B General Counsel CAO 0.07%  (72805) CVG /
MONAHAN THOMAS L 0.07%  (66525) CEB / CVG /
DEVENUTI RICHARD R 0.05%  (53358) CVG / EMC / STJ /
Cline Claudia L. SVP & General Counsel 0.05%  (47428) CVG /
HERMAN JOAN E 0.04%  (40378) CVG / HLS / MRVC /
Wooden Michael L SVP Chief Commercial Officer 0.04%  (39432) CVG /
Delaney Brian James Chief Operating Officer 0.04%  (38425) CVG / SREV /
WALLMAN RICHARD F 0.03%  (27994) CRL / CVG / ROP / STAY / TRNX /
Timmins Barry Christine Senior Vice President 0.03%  (26409) CVG /
BEEBE CHERYL K 0.02%  (19854) CVG / INGR / PKG /
Twomey Cormac J Chief Commercial Officer 0.02%  (17978) CVG /
GIBBS JOSEPH E 0.02%  (17393) CVG /
Greenwald Taylor C Chief Accounting Officer 0.01%  (15017) CVG /

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