SunTrust Banks, Inc. restated their buy rating on shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) in a research report sent to investors on Monday morning. The firm currently has a $34.00 target price on the information technology services provider’s stock. SunTrust Banks also issued estimates for Sykes Enterprises,’s Q3 2017 earnings at $0.45 EPS, FY2017 earnings at $1.82 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $2.00 EPS.

A number of other research analysts have also commented on SYKE. Zacks Investment Research lowered shares of Sykes Enterprises, from a hold rating to a strong sell rating in a research report on Saturday, August 12th. Robert W. Baird reduced 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 report on Tuesday, August 8th.

Shares of Sykes Enterprises, (NASDAQ SYKE) opened at 29.78 on Monday. Sykes Enterprises, has a 1-year low of $25.77 and a 1-year high of $34.49. The company has a market capitalization of $1.25 billion, a PE ratio of 18.73 and a beta of 0.84. The firm’s 50-day moving average price is $27.66 and its 200 day moving average price is $30.52.

Sykes Enterprises, (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $375.40 million during the quarter, compared to analyst estimates of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. Equities analysts predict that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.

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In other news, CEO Charles E. Sykes sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total transaction of $525,400.00. Following the completion of the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at approximately $8,879,233.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC grew its position in Sykes Enterprises, by 57.9% in the second quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock worth $122,000 after acquiring an additional 1,331 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in 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 worth $111,000 after acquiring an additional 177 shares in the last quarter. Sei Investments Co. grew its position in Sykes Enterprises, by 0.3% in the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock worth $181,000 after acquiring an additional 15 shares in the last quarter. Dubuque Bank & Trust Co. grew its position in Sykes Enterprises, by 26.0% in the second quarter. Dubuque Bank & Trust Co. now owns 6,006 shares of the information technology services provider’s stock worth $201,000 after acquiring an additional 1,241 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its position in Sykes Enterprises, by 72.6% in the second quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock worth $212,000 after acquiring an additional 2,665 shares in the last quarter. Institutional investors own 86.34% 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 (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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