Short Interest in TTEC Holdings, Inc. (NASDAQ:TTEC) Rises By 66.3%

TTEC Holdings, Inc. (NASDAQ:TTEC) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 3,210,000 shares, a growth of 66.3% from the March 31st total of 1,930,000 shares. Currently, 16.8% of the shares of the stock are short sold. Based on an average trading volume of 362,300 shares, the days-to-cover ratio is presently 8.9 days.

Analyst Ratings Changes

Several research analysts have commented on TTEC shares. Guggenheim started coverage on shares of TTEC in a research note on Tuesday, March 19th. They set a “sell” rating and a $8.00 price target on the stock. Barrington Research downgraded shares of TTEC from an “outperform” rating to a “market perform” rating in a research note on Monday, March 4th. Canaccord Genuity Group downgraded shares of TTEC from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $13.00 target price (down from $30.00) on shares of TTEC in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, TTEC presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Institutional Trading of TTEC

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of TTEC by 123.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 502,505 shares of the business services provider’s stock valued at $10,889,000 after buying an additional 277,860 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of TTEC by 2,053.6% during the 4th quarter. Federated Hermes Inc. now owns 221,910 shares of the business services provider’s stock valued at $4,809,000 after buying an additional 211,606 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of TTEC during the 4th quarter valued at $2,106,000. Scalar Gauge Management LLC bought a new stake in shares of TTEC during the 4th quarter valued at $1,517,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of TTEC by 18.7% during the 3rd quarter. Victory Capital Management Inc. now owns 299,415 shares of the business services provider’s stock valued at $7,851,000 after buying an additional 47,196 shares in the last quarter. Institutional investors own 38.03% of the company’s stock.

TTEC Stock Performance

NASDAQ:TTEC opened at $7.72 on Monday. The stock has a market cap of $366.31 million, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 0.83 and a beta of 0.99. The firm’s fifty day simple moving average is $11.26 and its 200 day simple moving average is $17.06. TTEC has a twelve month low of $7.66 and a twelve month high of $36.70. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.62.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Thursday, February 29th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). The company had revenue of $626.18 million during the quarter, compared to the consensus estimate of $602.98 million. TTEC had a net margin of 0.34% and a return on equity of 13.74%. As a group, research analysts predict that TTEC will post 1.16 EPS for the current year.

TTEC Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 3rd will be issued a $0.06 dividend. This represents a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, April 2nd. TTEC’s dividend payout ratio (DPR) is currently 66.67%.

About TTEC

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.