TTEC (TTEC) Downgraded by BidaskClub

TTEC (NASDAQ:TTEC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, January 6th.

A number of other brokerages have also recently issued reports on TTEC. ValuEngine cut TTEC from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks restated a “hold” rating and set a $43.00 price objective on shares of TTEC in a report on Monday, October 9th. Finally, Zacks Investment Research upgraded TTEC from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Saturday, January 6th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.00.

TTEC (NASDAQ TTEC) traded up $0.10 during trading hours on Friday, hitting $39.90. The company had a trading volume of 6,123 shares, compared to its average volume of 43,730. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,854.60, a P/E ratio of 25.28, a P/E/G ratio of 2.00 and a beta of 0.89. TTEC has a twelve month low of $28.20 and a twelve month high of $43.75.

TTEC (NASDAQ:TTEC) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. TTEC had a return on equity of 19.24% and a net margin of 3.45%. The business had revenue of $359.04 million during the quarter, compared to analysts’ expectations of $348.94 million. During the same quarter last year, the company posted $0.39 earnings per share. TTEC’s quarterly revenue was up 14.8% on a year-over-year basis. research analysts anticipate that TTEC will post 1.75 EPS for the current year.

In related news, SVP Steven C. Pollema sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 70.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Stevens Capital Management LP bought a new stake in shares of TTEC in the second quarter worth $201,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of TTEC by 43.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,350 shares of the business services provider’s stock worth $223,000 after acquiring an additional 1,620 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of TTEC by 88.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock worth $240,000 after acquiring an additional 2,759 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in shares of TTEC in the 2nd quarter worth about $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in TTEC in the 2nd quarter valued at about $263,000. Institutional investors and hedge funds own 24.64% of the company’s stock.

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TTEC Company Profile

TTEC Holdings, Inc, formerly TeleTech Holdings, Inc, 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).

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