TeleTech Holdings Inc. (TTEC) Downgraded by Zacks Investment Research
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. “
Several other analysts have also issued reports on TTEC. Sidoti began coverage on shares of TeleTech Holdings in a research note on Monday, August 29th. They issued a neutral rating and a $32.00 target price for the company. Wells Fargo & Co. lowered shares of TeleTech Holdings from an outperform rating to a market perform rating in a research note on Monday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $31.00.
TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The company’s 50-day moving average is $28.67 and its 200-day moving average is $27.97. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.05 and a beta of 0.89. TeleTech Holdings has a 52-week low of $24.19 and a 52-week high of $30.75.
TeleTech Holdings (NASDAQ:TTEC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. TeleTech Holdings had a net margin of 4.02% and a return on equity of 14.42%. The firm earned $305.10 million during the quarter, compared to analyst estimates of $305.72 million. During the same quarter in the prior year, the business posted $0.34 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that TeleTech Holdings will post $1.61 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be issued a $0.20 dividend. This is an increase from TeleTech Holdings’s previous semiannual dividend of $0.19. This represents a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, September 29th. TeleTech Holdings’s payout ratio is 38.10%.
In related news, EVP Martin F. Deghetto sold 14,245 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $28.37, for a total value of $404,130.65. Following the transaction, the executive vice president now directly owns 81,248 shares of the company’s stock, valued at approximately $2,305,005.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Martin F. Deghetto sold 12,541 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $28.00, for a total transaction of $351,148.00. Following the completion of the transaction, the executive vice president now directly owns 86,913 shares in the company, valued at $2,433,564. The disclosure for this sale can be found here. 67.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of TeleTech Holdings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 3,827 shares of the company’s stock worth $104,000 after buying an additional 1,667 shares during the period. BNP Paribas Arbitrage SA increased its stake in TeleTech Holdings by 90.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,531 shares of the company’s stock valued at $150,000 after buying an additional 2,627 shares during the period. Eqis Capital Management Inc. acquired a new stake in TeleTech Holdings during the second quarter valued at approximately $204,000. Thrivent Financial for Lutherans increased its stake in TeleTech Holdings by 4.5% in the second quarter. Thrivent Financial for Lutherans now owns 7,910 shares of the company’s stock valued at $215,000 after buying an additional 340 shares during the period. Finally, BlackRock Advisors LLC increased its stake in TeleTech Holdings by 5.6% in the second quarter. BlackRock Advisors LLC now owns 8,167 shares of the company’s stock valued at $222,000 after buying an additional 433 shares during the period. 27.95% of the stock is currently owned by institutional investors.
TeleTech Holdings Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer engagement management service provider that delivers integrated consulting, technology, growth and customer care solutions. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
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