Zacks Investment Research Downgrades TeleTech Holdings Inc. (TTEC) to Sell
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 research analysts have also recently weighed in on TTEC. Wells Fargo & Co. cut TeleTech Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Sidoti initiated coverage on TeleTech Holdings in a report on Monday, August 29th. They set a “neutral” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. TeleTech Holdings has a consensus rating of “Hold” and an average price target of $31.00.
Shares of TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The company has a market cap of $1.34 billion, a P/E ratio of 27.05 and a beta of 0.89. TeleTech Holdings has a 12-month low of $24.19 and a 12-month high of $30.75. The stock’s 50 day moving average price is $28.67 and its 200 day moving average price is $27.97.
TeleTech Holdings (NASDAQ:TTEC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company earned $305.10 million during the quarter, compared to analysts’ expectations of $305.72 million. TeleTech Holdings had a return on equity of 14.42% and a net margin of 4.02%. TeleTech Holdings’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. On average, analysts forecast that TeleTech Holdings will post $1.61 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 29th. This represents a yield of 1.37%. This is a boost from TeleTech Holdings’s previous semiannual dividend of $0.19. TeleTech Holdings’s dividend payout ratio (DPR) is 38.10%.
In other TeleTech Holdings news, EVP Martin F. Deghetto sold 14,245 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $28.37, for a total value of $404,130.65. Following the completion of the sale, the executive vice president now owns 81,248 shares in the company, valued at approximately $2,305,005.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory A. Conley sold 1,500 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $27.34, for a total value of $41,010.00. Following the completion of the sale, 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. 67.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in TTEC. Prudential Financial Inc. boosted its stake in TeleTech Holdings by 20.6% in the first quarter. Prudential Financial Inc. now owns 125,038 shares of the company’s stock valued at $3,471,000 after buying an additional 21,339 shares during the period. Burgundy Asset Management Ltd. boosted its stake in TeleTech Holdings by 2.8% in the first quarter. Burgundy Asset Management Ltd. now owns 331,065 shares of the company’s stock valued at $9,190,000 after buying an additional 8,929 shares during the period. Zebra Capital Management LLC boosted its stake in TeleTech Holdings by 24.1% in the first quarter. Zebra Capital Management LLC now owns 34,691 shares of the company’s stock valued at $963,000 after buying an additional 6,733 shares during the period. UBS Group AG boosted its stake in TeleTech Holdings by 3.4% in the first quarter. UBS Group AG now owns 55,355 shares of the company’s stock valued at $1,537,000 after buying an additional 1,816 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in TeleTech Holdings by 10.2% in the first quarter. Goldman Sachs Group Inc. now owns 30,987 shares of the company’s stock valued at $860,000 after buying an additional 2,868 shares during the period. Institutional investors and hedge funds own 27.95% of the company’s stock.
About TeleTech Holdings
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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