BidaskClub Lowers Sykes Enterprises (SYKE) to Hold

BidaskClub lowered shares of Sykes Enterprises (NASDAQ:SYKE) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other brokerages have also recently commented on SYKE. Robert W. Baird lowered their target price on shares of Sykes Enterprises from $36.00 to $30.00 and set a neutral rating on the stock in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Sykes Enterprises from a strong sell rating to a hold rating and set a $33.00 target price on the stock in a report on Wednesday, October 11th. Finally, SunTrust Banks reaffirmed a buy rating and set a $34.00 target price on shares of Sykes Enterprises in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $33.50.

Shares of Sykes Enterprises (NASDAQ:SYKE) opened at $31.00 on Friday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1,335.83, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. Sykes Enterprises has a 1 year low of $25.77 and a 1 year high of $34.49.

Sykes Enterprises (NASDAQ:SYKE) last issued its quarterly earnings data on Monday, November 6th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.18. Sykes Enterprises had a net margin of 4.32% and a return on equity of 11.33%. The firm had revenue of $407.31 million during the quarter, compared to the consensus estimate of $399.22 million. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. sell-side analysts anticipate that Sykes Enterprises will post 1.93 EPS for the current fiscal year.

In related news, CEO Charles E. Sykes sold 40,000 shares of Sykes Enterprises stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $31.17, for a total value of $1,246,800.00. Following the transaction, the chief executive officer now directly owns 285,189 shares of the company’s stock, valued at $8,889,341.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles E. Sykes sold 10,000 shares of Sykes Enterprises stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $31.16, for a total transaction of $311,600.00. Following the completion of the transaction, the chief executive officer now directly owns 275,589 shares in the company, valued at $8,587,353.24. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in Sykes Enterprises by 44.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,639 shares of the information technology services provider’s stock valued at $524,000 after acquiring an additional 4,807 shares during the last quarter. Federated Investors Inc. PA increased its stake in Sykes Enterprises by 44.0% in the second quarter. Federated Investors Inc. PA now owns 46,305 shares of the information technology services provider’s stock valued at $1,553,000 after acquiring an additional 14,159 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sykes Enterprises by 5.2% in the second quarter. Renaissance Technologies LLC now owns 653,673 shares of the information technology services provider’s stock valued at $21,918,000 after acquiring an additional 32,100 shares during the last quarter. SG Americas Securities LLC increased its stake in Sykes Enterprises by 55.6% in the second quarter. SG Americas Securities LLC now owns 16,171 shares of the information technology services provider’s stock valued at $542,000 after acquiring an additional 5,781 shares during the last quarter. Finally, Boston Partners increased its stake in Sykes Enterprises by 2.8% in the third quarter. Boston Partners now owns 1,348,116 shares of the information technology services provider’s stock valued at $39,311,000 after acquiring an additional 36,192 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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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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