TTEC Holdings, Inc. (NASDAQ:TTEC) Short Interest Up 66.3% in April

TTEC Holdings, Inc. (NASDAQ:TTEC) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 3,210,000 shares, a growth of 66.3% from the March 31st total of 1,930,000 shares. Based on an average trading volume of 362,300 shares, the short-interest ratio is currently 8.9 days. Approximately 16.8% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTEC. Canaccord Genuity Group reissued a “hold” rating and set a $13.00 target price (down previously from $30.00) on shares of TTEC in a research report on Wednesday, March 6th. Barrington Research lowered TTEC from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. Canaccord Genuity Group lowered TTEC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Guggenheim began coverage on TTEC in a research report on Tuesday, March 19th. They set a “sell” rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, TTEC has a consensus rating of “Hold” and an average price target of $22.00.

TTEC Price Performance

Shares of NASDAQ TTEC opened at $7.72 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.62. TTEC has a twelve month low of $7.66 and a twelve month high of $36.70. The stock has a 50 day moving average of $11.26 and a two-hundred day moving average of $17.12. The stock has a market cap of $366.31 million, a P/E ratio of 42.89, a P/E/G ratio of 0.83 and a beta of 0.99.

TTEC (NASDAQ:TTEC) last issued its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). TTEC had a net margin of 0.34% and a return on equity of 13.74%. The firm had revenue of $626.18 million during the quarter, compared to analysts’ expectations of $602.98 million. On average, research analysts forecast that TTEC will post 1.16 earnings per share for the current year.

TTEC Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 3rd will be paid a $0.06 dividend. This represents a yield of 4.6%. The ex-dividend date is Tuesday, April 2nd. TTEC’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On TTEC

Large investors have recently modified their holdings of the stock. Covestor Ltd raised its stake in shares of TTEC by 43,433.3% during the third quarter. Covestor Ltd now owns 1,306 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,303 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of TTEC by 128.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,854 shares of the business services provider’s stock worth $62,000 after purchasing an additional 1,607 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of TTEC by 62.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,084 shares of the business services provider’s stock worth $81,000 after purchasing an additional 1,185 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of TTEC during the fourth quarter worth approximately $96,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of TTEC during the first quarter worth approximately $177,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

About TTEC

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.