Barrington Research Reaffirms “Hold” Rating for Sykes Enterprises (SYKE)

Barrington Research restated their hold rating on shares of Sykes Enterprises (NASDAQ:SYKE) in a report released on Tuesday morning.

Several other brokerages also recently issued reports on SYKE. BidaskClub downgraded Sykes Enterprises from a buy rating to a hold rating in a research report on Monday, September 24th. ValuEngine upgraded Sykes Enterprises from a sell rating to a hold rating in a research report on Wednesday, August 8th. TheStreet downgraded Sykes Enterprises from a b- rating to a c+ rating in a research report on Tuesday, August 21st. Finally, SunTrust Banks restated a buy rating and issued a $36.00 target price on shares of Sykes Enterprises in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Sykes Enterprises presently has an average rating of Hold and an average price target of $33.00.

Shares of NASDAQ SYKE traded up $0.09 during midday trading on Tuesday, hitting $28.35. 1,620 shares of the company’s stock were exchanged, compared to its average volume of 145,285. The company has a current ratio of 2.74, a quick ratio of 2.90 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.16 billion, a PE ratio of 14.13, a P/E/G ratio of 1.29 and a beta of 0.65. Sykes Enterprises has a twelve month low of $25.90 and a twelve month high of $32.15.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Monday, November 5th. The information technology services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business had revenue of $399.30 million during the quarter, compared to the consensus estimate of $404.79 million. Sykes Enterprises had a return on equity of 10.08% and a net margin of 0.91%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. Sell-side analysts forecast that Sykes Enterprises will post 2.1 earnings per share for the current fiscal year.

In other Sykes Enterprises news, VP James T. Holder sold 8,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $30.05, for a total value of $249,415.00. Following the completion of the sale, the vice president now directly owns 19,706 shares in the company, valued at $592,165.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYKE. BlackRock Inc. lifted its position in Sykes Enterprises by 6.4% in the second quarter. BlackRock Inc. now owns 5,484,321 shares of the information technology services provider’s stock worth $157,841,000 after purchasing an additional 328,065 shares during the period. TD Asset Management Inc. increased its holdings in shares of Sykes Enterprises by 622.9% in the second quarter. TD Asset Management Inc. now owns 227,000 shares of the information technology services provider’s stock valued at $6,533,000 after buying an additional 195,600 shares in the last quarter. River Road Asset Management LLC increased its holdings in shares of Sykes Enterprises by 23.9% in the third quarter. River Road Asset Management LLC now owns 673,392 shares of the information technology services provider’s stock valued at $20,532,000 after buying an additional 129,993 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Sykes Enterprises by 28.7% in the third quarter. Acadian Asset Management LLC now owns 462,412 shares of the information technology services provider’s stock valued at $14,099,000 after buying an additional 103,182 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Sykes Enterprises by 14.3% in the second quarter. Renaissance Technologies LLC now owns 606,473 shares of the information technology services provider’s stock valued at $17,454,000 after buying an additional 75,973 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

About Sykes Enterprises

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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