Sykes Enterprises, Incorporated (SYKE) CEO Charles E. Sykes Sells 40,000 Shares of Stock

Sykes Enterprises, Incorporated (NASDAQ:SYKE) CEO Charles E. Sykes sold 40,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.17, for a total transaction of $1,246,800.00. Following the completion of the transaction, the chief executive officer now directly owns 285,189 shares in the company, valued at approximately $8,889,341.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Sykes Enterprises, Incorporated (SYKE) opened at $31.00 on Tuesday. Sykes Enterprises, Incorporated has a one year low of $25.77 and a one year high of $34.49. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.33. The company has a market cap of $1,335.83, a price-to-earnings ratio of 15.19, a PEG ratio of 1.61 and a beta of 0.89.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $399.22 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. sell-side analysts forecast that Sykes Enterprises, Incorporated will post 1.93 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in Sykes Enterprises by 0.3% during the 2nd quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock worth $181,000 after buying an additional 15 shares during the period. The Manufacturers Life Insurance Company increased its stake in Sykes Enterprises by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock worth $1,020,000 after buying an additional 131 shares during the period. Public Employees Retirement System of Ohio increased its stake in Sykes Enterprises by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock worth $111,000 after buying an additional 177 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Sykes Enterprises by 2.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,030 shares of the information technology services provider’s stock worth $470,000 after buying an additional 310 shares during the period. Finally, Rhumbline Advisers increased its stake in Sykes Enterprises by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 80,417 shares of the information technology services provider’s stock worth $2,696,000 after buying an additional 391 shares during the period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Sykes Enterprises from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 12th. Robert W. Baird cut their target price on shares of Sykes Enterprises from $36.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 target price on shares of Sykes Enterprises in a research note on Monday, October 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.50.

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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.

Insider Buying and Selling by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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