ValuEngine upgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a sell rating to a hold rating in a research report report published on Monday morning.

A number of other research analysts have also weighed in on SYKE. BidaskClub raised shares of Sykes Enterprises from a buy rating to a strong-buy rating in a research note on Saturday, January 5th. Zacks Investment Research lowered shares of Sykes Enterprises from a hold rating to a sell rating in a research report on Saturday, January 5th. Finally, Barrington Research reaffirmed a hold rating on shares of Sykes Enterprises in a research report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Sykes Enterprises presently has an average rating of Hold and an average target price of $33.00.

SYKE traded down $0.07 during trading on Monday, reaching $27.20. The company’s stock had a trading volume of 1,520 shares, compared to its average volume of 160,580. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.74 and a quick ratio of 2.74. Sykes Enterprises has a 1 year low of $22.67 and a 1 year high of $32.15. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.20 and a beta of 0.65.

Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Monday, November 5th. The information technology services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Sykes Enterprises had a net margin of 0.91% and a return on equity of 10.08%. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $404.79 million. During the same period last year, the company posted $0.62 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts anticipate that Sykes Enterprises will post 2.11 earnings per share for the current fiscal year.

In other news, VP James T. Holder sold 2,500 shares of Sykes Enterprises stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the sale, the vice president now owns 17,206 shares of the company’s stock, valued at approximately $469,895.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Sykes Enterprises by 2.2% in the second quarter. Rhumbline Advisers now owns 98,732 shares of the information technology services provider’s stock valued at $2,842,000 after purchasing an additional 2,152 shares during the period. Bank of New York Mellon Corp raised its position in Sykes Enterprises by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 516,383 shares of the information technology services provider’s stock valued at $14,862,000 after purchasing an additional 13,472 shares during the period. SG Americas Securities LLC raised its position in Sykes Enterprises by 80.5% in the second quarter. SG Americas Securities LLC now owns 25,832 shares of the information technology services provider’s stock valued at $743,000 after purchasing an additional 11,521 shares during the period. Schwab Charles Investment Management Inc. raised its position in Sykes Enterprises by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 384,626 shares of the information technology services provider’s stock valued at $11,070,000 after purchasing an additional 40,678 shares during the period. Finally, Swiss National Bank raised its position in Sykes Enterprises by 7.5% in the second quarter. Swiss National Bank now owns 72,823 shares of the information technology services provider’s stock valued at $2,096,000 after purchasing an additional 5,100 shares during the period. 87.99% of the stock is currently owned by hedge funds and other institutional investors.

About Sykes Enterprises

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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