Sykes Enterprises, Incorporated (NASDAQ:SYKE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Sykes Enterprises, Inc. is a leader in providing vertically integrated technology-based solutions through an integrated strategy combining its information technology services with an emerging e-commerce platform. Sykes’ continues to leverage its position as a leading provider of information technology services by assisting its clients in capitalizing on the growth of e-commerce over the Internet. Sykes’ e-commerce service platform enables it to comprehensively continue to expand by serving as a single-source provider of Internet-based technology solutions. “

Several other analysts also recently weighed in on the company. SunTrust Banks, Inc. restated a “buy” rating and set a $34.00 target price on shares of Sykes Enterprises, in a research note on Monday. Robert W. Baird restated a “hold” rating and set a $29.00 target price on shares of Sykes Enterprises, in a research note on Sunday, September 17th.

Sykes Enterprises, (SYKE) traded down 0.37% during trading on Wednesday, reaching $29.78. The company had a trading volume of 164,470 shares. The company has a market capitalization of $1.25 billion, a P/E ratio of 18.73 and a beta of 0.84. Sykes Enterprises, has a 12 month low of $25.77 and a 12 month high of $34.49. The stock has a 50 day moving average of $27.56 and a 200-day moving average of $30.53.

Sykes Enterprises, (NASDAQ:SYKE) last announced its earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. The firm had revenue of $375.40 million during the quarter, compared to the consensus estimate of $376.83 million. During the same quarter in the prior year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.

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In related news, CEO Charles E. Sykes sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $26.27, for a total transaction of $525,400.00. Following the completion of the sale, the chief executive officer now owns 337,999 shares in the company, valued at approximately $8,879,233.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SYKE. BlackRock Inc. lifted its position in shares of Sykes Enterprises, by 48,788.9% in the 1st quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock worth $142,885,000 after acquiring an additional 4,850,102 shares during the period. LSV Asset Management lifted its position in shares of Sykes Enterprises, by 62.1% in the 2nd quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock worth $43,246,000 after acquiring an additional 494,155 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Sykes Enterprises, by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,490 shares of the information technology services provider’s stock worth $105,971,000 after acquiring an additional 188,586 shares during the period. Tributary Capital Management LLC lifted its position in shares of Sykes Enterprises, by 36.2% in the 2nd quarter. Tributary Capital Management LLC now owns 425,370 shares of the information technology services provider’s stock worth $14,263,000 after acquiring an additional 113,051 shares during the period. Finally, Sensato Investors LLC lifted its position in shares of Sykes Enterprises, by 269.1% in the 1st quarter. Sensato Investors LLC now owns 115,082 shares of the information technology services provider’s stock worth $3,383,000 after acquiring an additional 83,900 shares during the period. Institutional investors own 86.34% of the company’s stock.

Sykes Enterprises, Company Profile

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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