Smith Graham & Co. Investment Advisors LP Cuts Stake in Sykes Enterprises, Incorporated (NASDAQ:SYKE)

Smith Graham & Co. Investment Advisors LP reduced its stake in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 0.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 259,035 shares of the information technology services provider’s stock after selling 620 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Sykes Enterprises were worth $7,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYKE. Norges Bank bought a new position in shares of Sykes Enterprises during the 4th quarter valued at approximately $22,939,000. Victory Capital Management Inc. lifted its position in Sykes Enterprises by 9.8% in the first quarter. Victory Capital Management Inc. now owns 1,906,423 shares of the information technology services provider’s stock worth $53,914,000 after buying an additional 170,805 shares during the last quarter. Intrepid Capital Management Inc. lifted its position in Sykes Enterprises by 105.7% in the first quarter. Intrepid Capital Management Inc. now owns 231,628 shares of the information technology services provider’s stock worth $6,550,000 after buying an additional 119,035 shares during the last quarter. Tributary Capital Management LLC lifted its position in Sykes Enterprises by 14.7% in the first quarter. Tributary Capital Management LLC now owns 623,692 shares of the information technology services provider’s stock worth $17,638,000 after buying an additional 79,989 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Sykes Enterprises by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 650,908 shares of the information technology services provider’s stock worth $16,096,000 after buying an additional 53,567 shares during the last quarter. Hedge funds and other institutional investors own 88.59% of the company’s stock.

A number of analysts have weighed in on the company. BidaskClub upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a research note on Wednesday, July 17th. TheStreet upgraded Sykes Enterprises from a “c+” rating to a “b-” rating in a research note on Wednesday, July 24th. SunTrust Banks lowered Sykes Enterprises from a “buy” rating to a “hold” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Friday, April 12th. ValuEngine lowered Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Sidoti reduced their target price on Sykes Enterprises from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.50.

SYKE stock traded down $0.09 during midday trading on Friday, reaching $28.24. The company’s stock had a trading volume of 133,810 shares, compared to its average volume of 169,799. The company has a quick ratio of 2.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $27.68. Sykes Enterprises, Incorporated has a 1 year low of $22.67 and a 1 year high of $31.47. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84.

Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. Sykes Enterprises had a return on equity of 10.36% and a net margin of 3.35%. The business had revenue of $389.00 million for the quarter, compared to analyst estimates of $395.88 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that Sykes Enterprises, Incorporated will post 2.1 earnings per share for the current fiscal year.

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

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