TTEC (TTEC) Downgraded by Zacks Investment Research

TTEC (NASDAQ:TTEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.

According to Zacks, “TeleTech Holdings, Inc. is a leading global provider of customer experience, engagement and growth solutions delivered through its proprietary end-to-end Humanify Customer Engagement as a Service offering. The company is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. TeleTech Holdings helps its clients acquire, retain and grow profitable customer relationships. Using customer-centric strategy, technology, processes and operations, TeleTech partners with business leadership across marketing, sales and customer care to design and deliver a simple, more human customer experience across every interaction channel. “

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of TTEC from a “strong sell” rating to a “sell” rating in a research report on Friday, May 18th. ValuEngine raised shares of TTEC from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. TTEC presently has a consensus rating of “Sell” and a consensus target price of $41.00.

TTEC stock opened at $25.85 on Friday. The company has a market capitalization of $1.27 billion, a PE ratio of 14.36, a PEG ratio of 1.91 and a beta of 0.90. The company has a current ratio of 2.38, a quick ratio of 2.30 and a debt-to-equity ratio of 0.87. TTEC has a fifty-two week low of $25.75 and a fifty-two week high of $43.75.

TTEC (NASDAQ:TTEC) last released its earnings results on Tuesday, August 7th. The business services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). The firm had revenue of $349.85 million during the quarter, compared to analysts’ expectations of $345.73 million. TTEC had a positive return on equity of 21.80% and a negative net margin of 1.10%. equities research analysts predict that TTEC will post 1.81 earnings per share for the current fiscal year.

In other news, SVP Margaret B. Mclean sold 5,000 shares of TTEC stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now directly owns 22,045 shares of the company’s stock, valued at $821,176.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 70.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC purchased a new position in TTEC during the second quarter valued at approximately $115,000. Acadian Asset Management LLC grew its position in TTEC by 68.6% during the second quarter. Acadian Asset Management LLC now owns 4,007 shares of the business services provider’s stock valued at $139,000 after purchasing an additional 1,630 shares in the last quarter. SG Americas Securities LLC purchased a new position in TTEC during the second quarter valued at approximately $199,000. Louisiana State Employees Retirement System purchased a new position in TTEC during the second quarter valued at approximately $221,000. Finally, MetLife Investment Advisors LLC purchased a new position in TTEC during the fourth quarter valued at approximately $297,000. 24.26% of the stock is currently owned by hedge funds and other institutional investors.

TTEC Company Profile

TTEC Holdings, Inc designs, builds, and operates omni-channel customer experiences. It operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS). The CMS segment offers customer experience delivery solutions, which integrate technology with customer experience professionals to optimize the customer experience across various channels and stages of the customer lifecycle from an onshore, offshore, or work-from-home environments.

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