Zacks Investment Research downgraded shares of Sykes Enterprises Inc. (NASDAQ:SYKE) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Sykes Enterprises, Inc. is a leader in providing vertically integrated technology-based solutions through an integrated strategy combining its information technology services with an emerging e-commerce platform. Sykes’ continues to leverage its position as a leading provider of information technology services by assisting its clients in capitalizing on the growth of e-commerce over the Internet. Sykes’ e-commerce service platform enables it to comprehensively continue to expand by serving as a single-source provider of Internet-based technology solutions. “

Separately, Wells Fargo & Co. reiterated a hold rating on shares of Sykes Enterprises in a research note on Sunday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Sykes Enterprises has an average rating of Hold and an average price target of $32.50.

Analyst Recommendations for Sykes Enterprises (NASDAQ:SYKE)

Sykes Enterprises (NASDAQ:SYKE) traded down 0.72% during mid-day trading on Wednesday, reaching $27.70. The company’s stock had a trading volume of 20,292 shares. The firm’s 50 day moving average is $28.84 and its 200-day moving average is $29.52. The stock has a market cap of $1.16 billion, a P/E ratio of 18.45 and a beta of 0.70. Sykes Enterprises has a one year low of $26.00 and a one year high of $33.00.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Sykes Enterprises had a net margin of 4.71% and a return on equity of 11.36%. The business earned $364.40 million during the quarter, compared to the consensus estimate of $336.85 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities analysts expect that Sykes Enterprises will post $1.84 earnings per share for the current fiscal year.

In other Sykes Enterprises news, VP James T. Holder sold 3,300 shares of Sykes Enterprises stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $30.54, for a total value of $100,782.00. Following the completion of the transaction, the vice president now owns 19,945 shares of the company’s stock, valued at $609,120.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul L. Whiting sold 13,700 shares of Sykes Enterprises stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $29.61, for a total transaction of $405,657.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYKE. TIAA CREF Investment Management LLC boosted its position in Sykes Enterprises by 9.2% in the first quarter. TIAA CREF Investment Management LLC now owns 217,103 shares of the company’s stock worth $6,552,000 after buying an additional 18,250 shares during the last quarter. Capital One National Association boosted its position in Sykes Enterprises by 19.1% in the second quarter. Capital One National Association now owns 19,998 shares of the company’s stock worth $579,000 after buying an additional 3,211 shares during the last quarter. Teachers Advisors Inc. boosted its position in Sykes Enterprises by 41.7% in the first quarter. Teachers Advisors Inc. now owns 80,263 shares of the company’s stock worth $2,422,000 after buying an additional 23,603 shares during the last quarter. PineBridge Investments L.P. boosted its position in Sykes Enterprises by 3.4% in the second quarter. PineBridge Investments L.P. now owns 4,918 shares of the company’s stock worth $142,000 after buying an additional 161 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Sykes Enterprises by 111.9% in the first quarter. Goldman Sachs Group Inc. now owns 113,268 shares of the company’s stock worth $3,418,000 after buying an additional 59,805 shares during the last quarter. 86.58% of the stock is owned by institutional investors.

About Sykes Enterprises

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing arena. The Company provides an array of customer contact management solutions to a range of clients in communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals.

5 Day Chart for NASDAQ:SYKE

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