TeleTech Holdings Inc. (TTEC) Downgraded by Zacks Investment Research to Sell
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. “
A number of other research analysts have also issued reports on the stock. Sidoti began coverage on shares of TeleTech Holdings in a report on Monday, August 29th. They issued a neutral rating and a $32.00 price objective for the company. Wells Fargo & Co. lowered shares of TeleTech Holdings from an outperform rating to a market perform rating in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. TeleTech Holdings currently has a consensus rating of Hold and a consensus target price of $31.00.
TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of 27.05 and a beta of 0.89. The firm has a 50 day moving average of $28.67 and a 200-day moving average of $27.97. TeleTech Holdings has a 52 week low of $24.19 and a 52 week high of $30.75.
TeleTech Holdings (NASDAQ:TTEC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The business earned $305.10 million during the quarter, compared to analyst estimates of $305.72 million. TeleTech Holdings had a net margin of 4.02% and a return on equity of 14.42%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, analysts forecast that TeleTech Holdings will post $1.61 earnings per share for the current year.
The company also recently declared a semiannual dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.20 per share. This is a positive change from TeleTech Holdings’s previous semiannual dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 29th. This represents a yield of 1.37%. TeleTech Holdings’s dividend payout ratio (DPR) is presently 38.10%.
In other TeleTech Holdings news, EVP Martin F. Deghetto sold 12,541 shares of the firm’s stock in a transaction that occurred 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 owns 86,913 shares in the company, valued at approximately $2,433,564. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory A. Conley sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $27.34, for a total transaction of $41,010.00. Following the transaction, the director now owns 5,667 shares of the company’s stock, valued at approximately $154,935.78. The disclosure for this sale can be found here. Company insiders own 67.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTEC. Victory Capital Management Inc. raised its position in TeleTech Holdings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,827 shares of the company’s stock valued at $104,000 after buying an additional 1,667 shares during the last quarter. Boston Partners raised its position in TeleTech Holdings by 0.8% in the second quarter. Boston Partners now owns 1,194,424 shares of the company’s stock valued at $32,405,000 after buying an additional 9,784 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in TeleTech Holdings during the second quarter valued at about $641,000. KBC Group NV raised its position in TeleTech Holdings by 15.3% in the second quarter. KBC Group NV now owns 24,871 shares of the company’s stock valued at $675,000 after buying an additional 3,307 shares during the last quarter. Finally, Strs Ohio raised its position in TeleTech Holdings by 4.5% in the second quarter. Strs Ohio now owns 25,300 shares of the company’s stock valued at $686,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other 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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