Zacks Investment Research Upgrades TeleTech Holdings, Inc. (TTEC) to “Buy”
TeleTech Holdings, Inc. (NASDAQ:TTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $44.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.25% from the company’s previous close.
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. “
Several other research firms have also commented on TTEC. SunTrust Banks, Inc. reissued a “hold” rating and issued a $43.00 price objective on shares of TeleTech Holdings in a research note on Monday, October 9th. BidaskClub downgraded shares of TeleTech Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th.
TeleTech Holdings (NASDAQ:TTEC) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. TeleTech Holdings had a net margin of 3.45% and a return on equity of 19.24%. The business had revenue of $359.04 million during the quarter, compared to analyst estimates of $348.94 million. During the same quarter last year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. analysts forecast that TeleTech Holdings will post 1.76 EPS for the current fiscal year.
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A number of institutional investors have recently modified their holdings of TTEC. Vanguard Group Inc. lifted its stake in TeleTech Holdings by 5.5% in the first quarter. Vanguard Group Inc. now owns 2,025,299 shares of the business services provider’s stock worth $59,949,000 after acquiring an additional 105,580 shares during the last quarter. Smith Asset Management Group LP purchased a new position in TeleTech Holdings in the second quarter worth approximately $3,153,000. Goldman Sachs Group Inc. lifted its stake in TeleTech Holdings by 146.9% in the second quarter. Goldman Sachs Group Inc. now owns 127,711 shares of the business services provider’s stock worth $5,211,000 after acquiring an additional 75,993 shares during the last quarter. Acadian Asset Management LLC lifted its stake in TeleTech Holdings by 1,138.5% in the second quarter. Acadian Asset Management LLC now owns 52,810 shares of the business services provider’s stock worth $2,155,000 after acquiring an additional 48,546 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in TeleTech Holdings during the second quarter worth approximately $1,898,000. Institutional investors own 25.72% of the company’s stock.
About TeleTech Holdings
TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. 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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