BidaskClub Upgrades TTEC (NASDAQ:TTEC) to “Hold”

TTEC (NASDAQ:TTEC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday, BidAskClub reports.

TTEC has been the topic of several other reports. William Blair initiated coverage on TTEC in a research report on Monday, December 30th. They issued an “outperform” rating on the stock. ValuEngine lowered TTEC from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Sidoti started coverage on TTEC in a research note on Thursday, September 19th. They issued a “buy” rating for the company. Finally, Northland Securities initiated coverage on TTEC in a report on Wednesday, January 8th. They set an “outperform” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.25.

Shares of TTEC stock traded up $0.31 during trading on Tuesday, reaching $42.39. The company’s stock had a trading volume of 6,437 shares, compared to its average volume of 217,425. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.73 and a beta of 0.64. TTEC has a 1-year low of $30.53 and a 1-year high of $50.45. The company has a 50-day simple moving average of $39.65 and a two-hundred day simple moving average of $44.95.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. TTEC had a return on equity of 23.39% and a net margin of 4.32%. The company had revenue of $395.51 million during the quarter. As a group, analysts anticipate that TTEC will post 1.91 earnings per share for the current year.

In related news, CEO Kenneth D. Tuchman sold 450,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $36.50, for a total value of $16,425,000.00. Following the transaction, the chief executive officer now owns 6,686,901 shares in the company, valued at approximately $244,071,886.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Regina Paolillo sold 8,588 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $50.01, for a total transaction of $429,485.88. Following the completion of the transaction, the chief financial officer now owns 184,909 shares in the company, valued at approximately $9,247,299.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,458,588 shares of company stock worth $126,354,486. 69.45% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in TTEC in the 3rd quarter worth approximately $60,000. Royal Bank of Canada boosted its position in TTEC by 63.2% in the 2nd quarter. Royal Bank of Canada now owns 1,532 shares of the business services provider’s stock worth $71,000 after purchasing an additional 593 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in TTEC in the 4th quarter worth approximately $130,000. Point72 Asset Management L.P. purchased a new stake in TTEC in the 3rd quarter worth approximately $139,000. Finally, Bank of Montreal Can boosted its position in TTEC by 99.4% in the 2nd quarter. Bank of Montreal Can now owns 3,276 shares of the business services provider’s stock worth $154,000 after purchasing an additional 1,633 shares in the last quarter. Institutional investors own 26.46% of the company’s stock.

About TTEC

TTEC Holdings, Inc designs and provides customer experience solutions in the United States, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Canada, the United Kingdom, and internationally. It operates in four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS).

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Analyst Recommendations for TTEC (NASDAQ:TTEC)

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