TeleTech Holdings, Inc. (TTEC) Cut to “Hold” at Zacks Investment Research
TeleTech Holdings, Inc. (NASDAQ:TTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 research analysts also recently issued reports on the company. SunTrust Banks, Inc. reissued a “hold” rating and issued a $43.00 price target on shares of TeleTech Holdings in a report on Monday, October 9th. BidaskClub downgraded TeleTech Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th.
TeleTech Holdings (NASDAQ:TTEC) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm had revenue of $359.04 million for the quarter, compared to analyst estimates of $348.94 million. TeleTech Holdings had a return on equity of 19.24% and a net margin of 3.45%. TeleTech Holdings’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. equities analysts expect that TeleTech Holdings will post 1.75 EPS for the current year.
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Large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its holdings in TeleTech Holdings by 78.2% in the second quarter. State of Alaska Department of Revenue now owns 3,100 shares of the business services provider’s stock valued at $126,000 after acquiring an additional 1,360 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in TeleTech Holdings by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,730 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 160 shares during the period. Stevens Capital Management LP acquired a new position in TeleTech Holdings in the second quarter valued at approximately $201,000. LMR Partners LLP acquired a new position in TeleTech Holdings in the second quarter valued at approximately $206,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of TeleTech Holdings by 88.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock worth $240,000 after buying an additional 2,759 shares during the period. 25.72% of the stock is owned by institutional investors.
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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