TeleTech Holdings Inc. (TTEC) Downgraded 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 research report issued to clients and investors 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 research analysts have also recently commented on the company. Sidoti assumed coverage on TeleTech Holdings in a research note on Monday, August 29th. They issued a “neutral” rating and a $32.00 target price on the stock. Wells Fargo & Co. downgraded TeleTech Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.00.
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TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The firm’s 50-day moving average price is $28.67 and its 200-day moving average price is $27.97. The stock has a market cap of $1.34 billion, a price-to-earnings 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.
TeleTech Holdings (NASDAQ:TTEC) last released its earnings results on Wednesday, August 3rd. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. TeleTech Holdings had a return on equity of 14.42% and a net margin of 4.02%. The firm had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $305.72 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts predict that TeleTech Holdings will post $1.61 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.20 per share. This is an increase from TeleTech Holdings’s previous semiannual dividend of $0.19. This represents a dividend yield of 1.37%. The ex-dividend date is Thursday, September 29th. TeleTech Holdings’s dividend payout ratio is presently 38.10%.
In other news, EVP Martin F. Deghetto sold 12,541 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $28.00, for a total transaction of $351,148.00. Following the transaction, the executive vice president now directly owns 86,913 shares of the company’s stock, valued at $2,433,564. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Martin F. Deghetto sold 14,245 shares of the company’s 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 $2,305,005.76. The disclosure for this sale can be found here. Insiders own 67.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TTEC. Prudential Financial Inc. increased its position in TeleTech Holdings by 20.6% in the first quarter. Prudential Financial Inc. now owns 125,038 shares of the company’s stock worth $3,471,000 after buying an additional 21,339 shares in the last quarter. Boston Partners increased its position in TeleTech Holdings by 0.8% in the second quarter. Boston Partners now owns 1,194,424 shares of the company’s stock worth $32,405,000 after buying an additional 9,784 shares in the last quarter. UBS Group AG increased its position in TeleTech Holdings by 3.4% in the first quarter. UBS Group AG now owns 55,355 shares of the company’s stock worth $1,537,000 after buying an additional 1,816 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in TeleTech Holdings by 2.8% in the first quarter. Burgundy Asset Management Ltd. now owns 331,065 shares of the company’s stock worth $9,190,000 after buying an additional 8,929 shares in the last quarter. Finally, Strs Ohio increased its position in TeleTech Holdings by 4.5% in the second quarter. Strs Ohio now owns 25,300 shares of the company’s stock worth $686,000 after buying an additional 1,100 shares in the last quarter. 27.95% of the stock is currently owned by hedge funds and other institutional investors.
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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