Sykes Enterprises, Incorporated (SYKE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) have been assigned an average recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of brokerages recently issued reports on SYKE. ValuEngine downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday. Barrington Research restated a “hold” rating on shares of Sykes Enterprises in a report on Tuesday. BidaskClub upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. Finally, TheStreet downgraded Sykes Enterprises from a “b-” rating to a “c+” rating in a report on Tuesday, August 21st.

In other Sykes Enterprises news, VP James T. Holder sold 8,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $30.05, for a total transaction of $249,415.00. Following the transaction, the vice president now owns 19,706 shares in the company, valued at approximately $592,165.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in shares of Sykes Enterprises by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 98,732 shares of the information technology services provider’s stock worth $2,842,000 after acquiring an additional 2,152 shares during the period. Foundry Partners LLC grew its holdings in shares of Sykes Enterprises by 1.8% during the 3rd quarter. Foundry Partners LLC now owns 209,819 shares of the information technology services provider’s stock worth $6,397,000 after acquiring an additional 3,735 shares during the period. United Services Automobile Association grew its holdings in shares of Sykes Enterprises by 37.9% during the 2nd quarter. United Services Automobile Association now owns 13,698 shares of the information technology services provider’s stock worth $394,000 after acquiring an additional 3,765 shares during the period. Martingale Asset Management L P grew its holdings in shares of Sykes Enterprises by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 183,742 shares of the information technology services provider’s stock worth $5,603,000 after acquiring an additional 3,893 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Sykes Enterprises by 5.0% during the 2nd quarter. Legal & General Group Plc now owns 84,719 shares of the information technology services provider’s stock worth $2,448,000 after acquiring an additional 4,017 shares during the period. Hedge funds and other institutional investors own 87.55% of the company’s stock.

Shares of NASDAQ:SYKE opened at $28.55 on Friday. Sykes Enterprises has a 1 year low of $25.90 and a 1 year high of $32.15. The stock has a market cap of $1.16 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. The company has a current ratio of 2.74, a quick ratio of 2.90 and a debt-to-equity ratio of 0.11.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, November 5th. The information technology services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. Sykes Enterprises had a return on equity of 10.08% and a net margin of 0.91%. The company had revenue of $399.30 million for the quarter, compared to the consensus estimate of $404.79 million. During the same quarter in the previous year, the business earned $0.62 EPS. Sykes Enterprises’s revenue was down 2.0% compared to the same quarter last year. On average, analysts expect that Sykes Enterprises will post 2.1 earnings per share for the current fiscal year.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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