Sykes Enterprises, Incorporated (SYKE) Earns “Hold” Rating from Robert W. Baird
Sykes Enterprises, Incorporated (NASDAQ:SYKE)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a research report issued on Sunday. They currently have a $29.00 price objective on the information technology services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 7.53% from the stock’s previous close.
Separately, Zacks Investment Research upgraded shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Thursday, July 13th.
Sykes Enterprises, (NASDAQ SYKE) opened at 26.97 on Friday. The company has a market capitalization of $1.13 billion, a PE ratio of 16.96 and a beta of 0.82. The firm has a 50-day moving average of $27.94 and a 200 day moving average of $30.44. Sykes Enterprises, has a 12-month low of $25.77 and a 12-month high of $34.49.
Sykes Enterprises, (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $375.40 million for the quarter, compared to analysts’ expectations of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. Analysts forecast that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.
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In other Sykes Enterprises, news, CEO Charles E. Sykes sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total value of $525,400.00. Following the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at $8,879,233.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its stake in Sykes Enterprises, by 0.3% in the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock valued at $181,000 after acquiring an additional 15 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Sykes Enterprises, by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock valued at $1,020,000 after acquiring an additional 131 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Sykes Enterprises, by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock valued at $111,000 after acquiring an additional 177 shares during the last quarter. Arizona State Retirement System boosted its stake in Sykes Enterprises, by 1.0% in the first quarter. Arizona State Retirement System now owns 20,523 shares of the information technology services provider’s stock valued at $603,000 after acquiring an additional 200 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Sykes Enterprises, by 2.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,030 shares of the information technology services provider’s stock valued at $470,000 after acquiring an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.
About Sykes Enterprises,
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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