Alliancebernstein L.P. decreased its position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 6.2% during the first quarter, Holdings Channel.com reports. The firm owned 63,529 shares of the information technology services provider’s stock after selling 4,211 shares during the period. Alliancebernstein L.P.’s holdings in Sykes Enterprises were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hancock Whitney Corp lifted its holdings in Sykes Enterprises by 4.6% in the 4th quarter. Hancock Whitney Corp now owns 6,609 shares of the information technology services provider’s stock valued at $249,000 after purchasing an additional 291 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Sykes Enterprises by 1.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,456 shares of the information technology services provider’s stock worth $725,000 after acquiring an additional 300 shares during the last quarter. Aperio Group LLC increased its stake in shares of Sykes Enterprises by 3.4% in the 4th quarter. Aperio Group LLC now owns 18,823 shares of the information technology services provider’s stock worth $709,000 after acquiring an additional 616 shares during the last quarter. Strs Ohio increased its stake in shares of Sykes Enterprises by 3.3% in the 1st quarter. Strs Ohio now owns 25,100 shares of the information technology services provider’s stock worth $1,106,000 after acquiring an additional 800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sykes Enterprises by 3.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,913 shares of the information technology services provider’s stock worth $863,000 after acquiring an additional 824 shares during the last quarter. 88.98% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on SYKE shares. Barrington Research raised their target price on Sykes Enterprises from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Zacks Investment Research downgraded Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, February 24th.
Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Tuesday, May 4th. The information technology services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The firm had revenue of $457.80 million during the quarter, compared to the consensus estimate of $457.38 million. Sykes Enterprises had a return on equity of 13.66% and a net margin of 3.84%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. On average, sell-side analysts expect that Sykes Enterprises, Incorporated will post 3.05 EPS for the current year.
In other Sykes Enterprises news, EVP Lawrence Zingale sold 12,500 shares of Sykes Enterprises stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $43.68, for a total value of $546,000.00. Following the completion of the transaction, the executive vice president now directly owns 70,306 shares of the company’s stock, valued at approximately $3,070,966.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John Chapman sold 9,000 shares of Sykes Enterprises stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $45.42, for a total value of $408,780.00. Following the completion of the transaction, the chief financial officer now directly owns 51,520 shares of the company’s stock, valued at $2,340,038.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,388 shares of company stock valued at $993,737. 4.40% of the stock is currently owned by corporate insiders.
Sykes Enterprises Profile
Sykes Enterprises, Incorporated, together with its subsidiaries, provides customer experience management, multichannel demand generation, and digital transformation services. The company's customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as offers health information and dispatching roadside assistance.
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