TeleTech (TTEC) Downgraded to Hold at ValuEngine

TeleTech (NASDAQ:TTEC) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday, December 1st.

A number of other analysts also recently commented on the company. Zacks Investment Research downgraded TeleTech from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. SunTrust Banks reiterated a “hold” rating and issued a $43.00 price target on shares of TeleTech in a report on Monday, October 9th. Finally, BidaskClub downgraded TeleTech from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating, TeleTech has an average rating of “Hold” and an average target price of $43.50.

Shares of TeleTech (NASDAQ:TTEC) traded down $0.15 during trading hours on Friday, hitting $39.85. The stock had a trading volume of 28,700 shares, compared to its average volume of 92,008. The stock has a market cap of $1,827.09, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.13 and a quick ratio of 2.13. TeleTech has a fifty-two week low of $28.20 and a fifty-two week high of $43.75.

TeleTech (NASDAQ:TTEC) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $359.04 million during the quarter, compared to the consensus estimate of $348.94 million. TeleTech had a return on equity of 19.24% and a net margin of 3.45%. TeleTech’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. sell-side analysts expect that TeleTech will post 1.75 EPS for the current year.

In other TeleTech news, SVP Steven C. Pollema sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 70.00% of the company’s stock.

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of TeleTech by 146.9% in the second quarter. Goldman Sachs Group Inc. now owns 127,711 shares of the business services provider’s stock valued at $5,211,000 after purchasing an additional 75,993 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of TeleTech in the second quarter valued at approximately $274,000. Schwab Charles Investment Management Inc. increased its stake in shares of TeleTech by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 83,442 shares of the business services provider’s stock valued at $2,470,000 after acquiring an additional 4,251 shares during the period. Shell Asset Management Co. increased its stake in shares of TeleTech by 75.6% during the third quarter. Shell Asset Management Co. now owns 50,282 shares of the business services provider’s stock valued at $1,236,000 after acquiring an additional 21,646 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of TeleTech during the second quarter valued at approximately $807,000. Institutional investors own 24.88% of the company’s stock.

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TeleTech Company Profile

TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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