Comerica Bank Has $4.30 Million Stake in TeleTech Holdings, Inc. (TTEC)
Comerica Bank lowered its stake in TeleTech Holdings, Inc. (NASDAQ:TTEC) by 59.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,361 shares of the business services provider’s stock after selling 148,494 shares during the period. Comerica Bank owned about 0.23% of TeleTech Holdings worth $4,295,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TTEC. Legal & General Group Plc raised its position in TeleTech Holdings by 5.9% in the second quarter. Legal & General Group Plc now owns 27,926 shares of the business services provider’s stock valued at $1,139,000 after buying an additional 1,560 shares in the last quarter. Bank of New York Mellon Corp raised its position in TeleTech Holdings by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 348,253 shares of the business services provider’s stock valued at $14,208,000 after buying an additional 5,272 shares in the last quarter. LMR Partners LLP bought a new position in TeleTech Holdings during the second quarter valued at approximately $206,000. Smith Asset Management Group LP bought a new position in TeleTech Holdings during the second quarter valued at approximately $3,153,000. Finally, Boston Partners raised its position in TeleTech Holdings by 2.1% in the second quarter. Boston Partners now owns 1,270,707 shares of the business services provider’s stock valued at $51,844,000 after buying an additional 25,618 shares in the last quarter. Institutional investors and hedge funds own 25.74% of the company’s stock.
TeleTech Holdings, Inc. (NASDAQ:TTEC) opened at 39.15 on Monday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 40.70 and a beta of 0.90. TeleTech Holdings, Inc. has a 12-month low of $24.45 and a 12-month high of $43.45. The stock’s 50 day moving average price is $41.05 and its 200 day moving average price is $35.93.
TeleTech Holdings (NASDAQ:TTEC) last issued its quarterly earnings results on Monday, August 7th. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. TeleTech Holdings had a return on equity of 19.49% and a net margin of 3.30%. The business had revenue of $353.42 million for the quarter, compared to the consensus estimate of $332.52 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. TeleTech Holdings’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts forecast that TeleTech Holdings, Inc. will post $1.77 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/28/comerica-bank-has-4-30-million-stake-in-teletech-holdings-inc-ttec.html.
Several research analysts have recently commented on the company. BidaskClub lowered TeleTech Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Zacks Investment Research lowered TeleTech Holdings from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Finally, TheStreet upgraded TeleTech Holdings from a “c+” rating to a “b” rating in a report on Thursday, May 11th.
In other news, SVP Steven C. Pollema sold 1,317 shares of TeleTech Holdings stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $42.01, for a total transaction of $55,327.17. Following the transaction, the senior vice president now owns 6,880 shares in the company, valued at $289,028.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert N. Jimenez sold 6,500 shares of TeleTech Holdings stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $42.58, for a total value of $276,770.00. Following the transaction, the executive vice president now owns 9,390 shares in the company, valued at approximately $399,826.20. The disclosure for this sale can be found here. Insiders own 70.00% of the company’s stock.
TeleTech Holdings Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
Want to see what other hedge funds are holding TTEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TeleTech Holdings, Inc. (NASDAQ:TTEC).
Receive News & Stock Ratings for TeleTech Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TeleTech Holdings Inc. and related stocks with our FREE daily email newsletter.