TeleTech (TTEC) Stock Rating Lowered by Zacks Investment Research
TeleTech (NASDAQ:TTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
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 firms also recently issued reports on TTEC. SunTrust Banks restated a “hold” rating and issued a $43.00 price target on shares of TeleTech in a research report on Monday, October 9th. BidaskClub raised shares of TeleTech from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, ValuEngine cut shares of TeleTech from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. TeleTech has an average rating of “Hold” and a consensus target price of $44.00.
TeleTech (NASDAQ:TTEC) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $359.04 million during the quarter, compared to analyst estimates of $348.94 million. TeleTech had a net margin of 3.45% and a return on equity of 19.24%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. sell-side analysts forecast that TeleTech will post 1.75 earnings per share for the current fiscal year.
In related news, SVP Steven C. Pollema sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 70.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of TTEC. Bank of New York Mellon Corp lifted its stake in TeleTech by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 348,253 shares of the business services provider’s stock valued at $14,208,000 after acquiring an additional 5,272 shares during the last quarter. Legal & General Group Plc raised its position in shares of TeleTech by 5.9% in the second quarter. Legal & General Group Plc now owns 27,926 shares of the business services provider’s stock valued at $1,139,000 after purchasing an additional 1,560 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of TeleTech by 88.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 2,759 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of TeleTech by 58.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,806 shares of the business services provider’s stock valued at $1,257,000 after purchasing an additional 11,323 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of TeleTech by 17.7% in the second quarter. Victory Capital Management Inc. now owns 6,855 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 1,029 shares during the period. Institutional investors and hedge funds own 24.80% of the company’s stock.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TeleTech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TeleTech and related companies with MarketBeat.com's FREE daily email newsletter.