TeleTech Holdings Inc. (TTEC) Cut to “Sell” at Zacks Investment Research
TeleTech Holdings Inc. (NASDAQ:TTEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.
According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “
Several other equities analysts have also recently issued reports on TTEC. Wells Fargo & Co. cut shares of TeleTech Holdings from an “outperform” rating to a “market perform” rating in a research note on Monday, August 8th. Sidoti started coverage on shares of TeleTech Holdings in a research note on Monday, August 29th. They issued a “neutral” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.00.
TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 27.05 and a beta of 0.89. TeleTech Holdings has a 1-year low of $24.19 and a 1-year high of $30.75. The company’s 50 day moving average is $28.67 and its 200-day moving average is $27.97.
TeleTech Holdings (NASDAQ:TTEC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. TeleTech Holdings had a net margin of 4.02% and a return on equity of 14.42%. The firm earned $305.10 million during the quarter, compared to analysts’ expectations of $305.72 million. During the same period in the previous year, the business posted $0.34 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Analysts forecast that TeleTech Holdings will post $1.61 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from TeleTech Holdings’s previous semiannual dividend of $0.19. This represents a yield of 1.37%. TeleTech Holdings’s dividend payout ratio is currently 38.10%.
In other TeleTech Holdings news, EVP Martin F. Deghetto sold 12,541 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $28.00, for a total transaction of $351,148.00. Following the completion of the transaction, the executive vice president now directly owns 86,913 shares in the company, valued at $2,433,564. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Martin F. Deghetto sold 14,245 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $28.37, for a total transaction of $404,130.65. Following the transaction, the executive vice president now owns 81,248 shares of the company’s stock, valued at $2,305,005.76. The disclosure for this sale can be found here. Company insiders own 67.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. boosted its position in TeleTech Holdings by 1.4% in the third quarter. Eqis Capital Management Inc. now owns 7,636 shares of the company’s stock worth $221,000 after buying an additional 107 shares in the last quarter. Macquarie Group Ltd. boosted its position in TeleTech Holdings by 27.7% in the second quarter. Macquarie Group Ltd. now owns 551,580 shares of the company’s stock worth $14,964,000 after buying an additional 119,756 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in TeleTech Holdings by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,927 shares of the company’s stock worth $1,952,000 after buying an additional 1,368 shares in the last quarter. Numeric Investors LLC bought a new position in TeleTech Holdings during the second quarter worth $399,000. Finally, Arizona State Retirement System boosted its position in TeleTech Holdings by 1.2% in the second quarter. Arizona State Retirement System now owns 8,495 shares of the company’s stock worth $230,000 after buying an additional 100 shares in the last quarter. Institutional investors own 27.95% of the company’s stock.
TeleTech Holdings Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer engagement management service provider that delivers integrated consulting, technology, growth and customer care solutions. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
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