TeleTech Holdings Inc. (TTEC) Cut to “Sell” at Zacks Investment Research
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. “
A number of other equities analysts have also recently commented on the stock. Wells Fargo & Co. cut shares of TeleTech Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Sidoti initiated coverage on shares of TeleTech Holdings in a research report on Monday, August 29th. They issued a “neutral” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. TeleTech Holdings has an average rating of “Hold” and a consensus target price of $31.00.
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Shares of TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. TeleTech Holdings has a 12 month low of $24.19 and a 12 month high of $30.75. The stock has a 50 day moving average of $28.67 and a 200-day moving average of $27.97. The firm has a market capitalization of $1.34 billion, a PE ratio of 27.05 and a beta of 0.89.
TeleTech Holdings (NASDAQ:TTEC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $305.72 million. TeleTech Holdings had a net margin of 4.02% and a return on equity of 14.42%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. On average, equities research analysts anticipate that TeleTech Holdings will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.20 dividend. This represents a yield of 1.37%. This is a positive change from TeleTech Holdings’s previous semiannual dividend of $0.19. The ex-dividend date is Thursday, September 29th. TeleTech Holdings’s dividend payout ratio (DPR) is 38.10%.
In related news, EVP Martin F. Deghetto sold 14,245 shares of TeleTech Holdings stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $28.37, for a total value of $404,130.65. Following the transaction, the executive vice president now directly owns 81,248 shares in the company, valued at approximately $2,305,005.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Martin F. Deghetto sold 12,541 shares of TeleTech Holdings stock in a transaction 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 $2,433,564. The disclosure for this sale can be found here. 67.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its stake in shares of TeleTech Holdings by 27.7% in the second quarter. Macquarie Group Ltd. now owns 551,580 shares of the company’s stock valued at $14,964,000 after buying an additional 119,756 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of TeleTech Holdings by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,912,471 shares of the company’s stock valued at $51,885,000 after buying an additional 57,162 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TeleTech Holdings by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,346,077 shares of the company’s stock valued at $36,518,000 after buying an additional 42,322 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of TeleTech Holdings by 165.9% in the second quarter. Citadel Advisors LLC now owns 58,858 shares of the company’s stock valued at $1,597,000 after buying an additional 36,719 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of TeleTech Holdings by 2.8% in the second quarter. BlackRock Fund Advisors now owns 1,053,183 shares of the company’s stock valued at $28,573,000 after buying an additional 29,120 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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