Palouse Capital Management Inc. Sells 419 Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE)

Palouse Capital Management Inc. decreased its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,031 shares of the information technology services provider’s stock after selling 419 shares during the period. Palouse Capital Management Inc.’s holdings in Sykes Enterprises were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SYKE. The Manufacturers Life Insurance Company grew its position in Sykes Enterprises by 8.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 25,596 shares of the information technology services provider’s stock worth $724,000 after acquiring an additional 1,928 shares during the last quarter. Kennedy Capital Management Inc. grew its position in Sykes Enterprises by 4.2% during the 1st quarter. Kennedy Capital Management Inc. now owns 186,918 shares of the information technology services provider’s stock worth $5,286,000 after acquiring an additional 7,585 shares during the last quarter. Citigroup Inc. grew its position in Sykes Enterprises by 35.7% during the 1st quarter. Citigroup Inc. now owns 25,169 shares of the information technology services provider’s stock worth $711,000 after acquiring an additional 6,619 shares during the last quarter. State of Tennessee Treasury Department grew its position in Sykes Enterprises by 5.4% during the 1st quarter. State of Tennessee Treasury Department now owns 38,747 shares of the information technology services provider’s stock worth $1,096,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Sykes Enterprises during the 1st quarter worth approximately $202,000. 88.63% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SYKE traded up $0.32 during trading hours on Wednesday, hitting $26.55. 3,029 shares of the stock were exchanged, compared to its average volume of 152,032. Sykes Enterprises, Incorporated has a twelve month low of $22.67 and a twelve month high of $31.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.21 and a beta of 0.82.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Sykes Enterprises had a return on equity of 10.53% and a net margin of 3.08%. The firm had revenue of $402.93 million for the quarter, compared to the consensus estimate of $404.73 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts predict that Sykes Enterprises, Incorporated will post 2.15 EPS for the current fiscal year.

Several research analysts have issued reports on SYKE shares. SunTrust Banks downgraded Sykes Enterprises from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a report on Friday, April 12th. BidaskClub downgraded Sykes Enterprises from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Zacks Investment Research downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.00.

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Sykes Enterprises Company Profile

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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Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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