Sykes Enterprises (SYKE) Upgraded by ValuEngine to Buy

Sykes Enterprises (NASDAQ:SYKE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research analysts have also issued reports on SYKE. BidaskClub lowered shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Zacks Investment Research lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. SunTrust Banks reiterated a “buy” rating and set a $34.00 price objective on shares of Sykes Enterprises in a report on Monday, October 9th. Finally, Robert W. Baird reiterated a “hold” rating and set a $29.00 price objective on shares of Sykes Enterprises in a report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.00.

Sykes Enterprises (SYKE) traded down $0.79 during trading hours on Friday, reaching $30.40. 122,408 shares of the company’s stock were exchanged, compared to its average volume of 124,838. The stock has a market cap of $1,304.10, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.29 and a current ratio of 3.29. Sykes Enterprises has a 52 week low of $25.77 and a 52 week high of $34.49.

In other news, CEO Charles E. Sykes sold 10,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $31.16, for a total transaction of $311,600.00. Following the transaction, the chief executive officer now directly owns 275,589 shares in the company, valued at approximately $8,587,353.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles E. Sykes sold 40,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.17, for a total transaction of $1,246,800.00. Following the transaction, the chief executive officer now owns 285,189 shares in the company, valued at $8,889,341.13. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Sykes Enterprises by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock worth $1,020,000 after acquiring an additional 131 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Sykes Enterprises by 7.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock worth $135,000 after acquiring an additional 280 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Sykes Enterprises by 0.6% during the 2nd quarter. California Public Employees Retirement System now owns 148,565 shares of the information technology services provider’s stock worth $4,981,000 after acquiring an additional 900 shares during the period. Riverhead Capital Management LLC increased its position in Sykes Enterprises by 57.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock worth $122,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Sykes Enterprises by 6.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 23,610 shares of the information technology services provider’s stock worth $792,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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