Sykes Enterprises (NASDAQ:SYKE) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a sell rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other analysts have also weighed in on the company. Robert W. Baird raised Sykes Enterprises from a neutral rating to an outperform rating and set a $40.00 price objective on the stock in a research report on Thursday, June 4th. Barrington Research reiterated a hold rating on shares of Sykes Enterprises in a research note on Monday, August 10th. Zacks Investment Research upgraded shares of Sykes Enterprises from a hold rating to a strong-buy rating and set a $37.00 target price for the company in a research note on Saturday, August 8th. Finally, TheStreet upgraded shares of Sykes Enterprises from a c+ rating to a b- rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $37.33.

Sykes Enterprises stock opened at $31.37 on Friday. Sykes Enterprises has a twelve month low of $22.12 and a twelve month high of $38.24. The stock’s fifty day simple moving average is $32.95 and its 200-day simple moving average is $28.44. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.70 and a beta of 0.96.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, August 3rd. The information technology services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.49. Sykes Enterprises had a return on equity of 11.50% and a net margin of 4.68%. The business had revenue of $416.80 million for the quarter, compared to analyst estimates of $378.31 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts predict that Sykes Enterprises will post 2.36 earnings per share for the current year.

In other Sykes Enterprises news, EVP Lawrence Zingale sold 4,700 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $32.00, for a total value of $150,400.00. Following the completion of the transaction, the executive vice president now owns 66,076 shares in the company, valued at $2,114,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Advisers LP boosted its stake in Sykes Enterprises by 11.0% in the second quarter. Two Sigma Advisers LP now owns 39,200 shares of the information technology services provider’s stock valued at $1,084,000 after acquiring an additional 3,900 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Sykes Enterprises in the second quarter valued at $440,000. Handelsbanken Fonder AB acquired a new stake in shares of Sykes Enterprises during the second quarter worth about $302,000. Nuveen Asset Management LLC boosted its stake in shares of Sykes Enterprises by 3.1% during the second quarter. Nuveen Asset Management LLC now owns 387,479 shares of the information technology services provider’s stock worth $10,718,000 after buying an additional 11,489 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Sykes Enterprises by 0.9% during the second quarter. California State Teachers Retirement System now owns 58,244 shares of the information technology services provider’s stock worth $1,611,000 after buying an additional 491 shares during the period. Institutional investors own 89.66% of the company’s stock.

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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