Sykes Enterprises, Incorporated (NASDAQ:SYKE) Position Cut by Capstone Asset Management Co.
Capstone Asset Management Co. cut its stake in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 7.6% during the second quarter, Holdings Channel reports. The fund owned 9,849 shares of the information technology services provider’s stock after selling 810 shares during the period. Capstone Asset Management Co.’s holdings in Sykes Enterprises, were worth $330,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Sykes Enterprises, by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock valued at $111,000 after buying an additional 177 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Sykes Enterprises, by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 4,360 shares of the information technology services provider’s stock valued at $128,000 after buying an additional 70 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in Sykes Enterprises, during the first quarter valued at $134,000. Dubuque Bank & Trust Co. bought a new position in Sykes Enterprises, during the first quarter valued at $140,000. Finally, PEAK6 Investments L.P. bought a new position in Sykes Enterprises, during the first quarter valued at $235,000. 86.94% of the stock is owned by hedge funds and other institutional investors.
Sykes Enterprises, Incorporated (SYKE) traded up 1.25% during trading on Friday, reaching $26.64. 79,909 shares of the company’s stock traded hands. The company’s 50 day moving average is $33.09 and its 200-day moving average is $30.76. Sykes Enterprises, Incorporated has a 52-week low of $25.77 and a 52-week high of $34.49. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 16.75 and a beta of 0.75.
Sykes Enterprises, (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The company had revenue of $375.40 million for the quarter, compared to analysts’ expectations of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. Sykes Enterprises,’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. On average, analysts anticipate that Sykes Enterprises, Incorporated will post $1.80 earnings per share for the current fiscal year.
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SYKE has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Thursday, July 13th. Robert W. Baird cut their price target on shares of Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday.
In other Sykes Enterprises, news, Director Paul L. Whiting sold 14,164 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $32.75, for a total value of $463,871.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP James T. Holder sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $33.00, for a total value of $82,500.00. Following the completion of the sale, the vice president now directly owns 19,119 shares of the company’s stock, valued at approximately $630,927. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,336 shares of company stock valued at $671,182. 2.70% of the stock is owned by insiders.
About Sykes Enterprises,
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.
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