BNP Paribas Arbitrage SA Reduces Stake in Sykes Enterprises Inc. (SYKE)
BNP Paribas Arbitrage SA cut its position in Sykes Enterprises Inc. (NASDAQ:SYKE) by 46.1% during the third quarter, Holdings Channel reports. The institutional investor owned 7,140 shares of the company’s stock after selling 6,099 shares during the period. BNP Paribas Arbitrage SA’s holdings in Sykes Enterprises were worth $201,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SYKE. BlackRock Inc. boosted its stake in Sykes Enterprises by 193.2% in the first quarter. BlackRock Inc. now owns 3,747 shares of the company’s stock worth $113,000 after buying an additional 2,469 shares in the last quarter. PineBridge Investments L.P. raised its stake in Sykes Enterprises by 3.4% in the second quarter. PineBridge Investments L.P. now owns 4,918 shares of the company’s stock worth $142,000 after buying an additional 161 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Sykes Enterprises by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,374 shares of the company’s stock worth $156,000 after buying an additional 650 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in Sykes Enterprises by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,700 shares of the company’s stock worth $165,000 after buying an additional 600 shares during the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Sykes Enterprises during the second quarter worth about $220,000. Institutional investors and hedge funds own 86.58% of the company’s stock.
Sykes Enterprises Inc. (NASDAQ:SYKE) opened at 27.90 on Thursday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 18.59 and a beta of 0.70. The firm’s 50 day moving average price is $28.84 and its 200-day moving average price is $29.52. Sykes Enterprises Inc. has a 52 week low of $26.00 and a 52 week high of $33.00.
Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $336.85 million. Sykes Enterprises had a return on equity of 11.36% and a net margin of 4.71%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts expect that Sykes Enterprises Inc. will post $1.84 EPS for the current year.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Sykes Enterprises in a research note on Sunday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Sykes Enterprises presently has a consensus rating of “Hold” and a consensus price target of $32.50.
In other news, CEO Charles E. Sykes sold 50,000 shares of Sykes Enterprises stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $29.19, for a total transaction of $1,459,500.00. Following the sale, the chief executive officer now owns 298,457 shares of the company’s stock, valued at $8,711,959.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William J. Meurer sold 10,116 shares of Sykes Enterprises stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $30.35, for a total value of $307,020.60. Following the sale, the director now directly owns 60,398 shares in the company, valued at approximately $1,833,079.30. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Sykes Enterprises Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing arena. The Company provides an array of customer contact management solutions to a range of clients in communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals.
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