TTEC (NASDAQ:TTEC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of TTEC (NASDAQ:TTEC) from a hold rating to a buy rating in a report released on Saturday, January 6th. Zacks Investment Research currently has $45.00 target price on the business services provider’s stock.

According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “

A number of other brokerages also recently weighed in on TTEC. BidaskClub downgraded TTEC from a hold rating to a sell rating in a research note on Saturday, December 30th. ValuEngine downgraded TTEC from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, SunTrust Banks reissued a hold rating and issued a $43.00 price objective on shares of TTEC in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of Hold and an average target price of $44.00.

Shares of TTEC (NASDAQ TTEC) traded up $0.17 during midday trading on Friday, reaching $39.97. The company’s stock had a trading volume of 3,583 shares, compared to its average volume of 43,690. The firm has a market cap of $1,854.60, a price-to-earnings ratio of 25.28, a PEG ratio of 2.00 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. TTEC has a 12-month low of $28.20 and a 12-month high of $43.75.

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

In other TTEC news, SVP Steven C. Pollema sold 9,000 shares of TTEC 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 filing with the SEC, which is available through this link. Insiders own 70.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTEC. Bank of New York Mellon Corp increased its position in shares of TTEC by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 348,253 shares of the business services provider’s stock valued at $14,208,000 after purchasing an additional 5,272 shares during the period. Legal & General Group Plc increased its position in shares of TTEC by 5.9% during the second quarter. Legal & General Group Plc now owns 27,926 shares of the business services provider’s stock valued at $1,139,000 after purchasing an additional 1,560 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of TTEC by 88.4% during the second quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 2,759 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of TTEC by 58.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 30,806 shares of the business services provider’s stock valued at $1,257,000 after purchasing an additional 11,323 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of TTEC by 17.7% during the second quarter. Victory Capital Management Inc. now owns 6,855 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 1,029 shares during the period. Institutional investors and hedge funds own 24.64% of the company’s stock.

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About TTEC

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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