Pinebridge Investments L.P. Buys 33,482 Shares of Sykes Enterprises, Incorporated (SYKE)

Pinebridge Investments L.P. increased its stake in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 79.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,856 shares of the information technology services provider’s stock after purchasing an additional 33,482 shares during the quarter. Pinebridge Investments L.P.’s holdings in Sykes Enterprises were worth $2,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYKE. New York State Common Retirement Fund grew its position in shares of Sykes Enterprises by 13.1% in the second quarter. New York State Common Retirement Fund now owns 43,300 shares of the information technology services provider’s stock valued at $1,452,000 after purchasing an additional 4,999 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Sykes Enterprises by 9.1% in the second quarter. Goldman Sachs Group Inc. now owns 151,848 shares of the information technology services provider’s stock valued at $5,092,000 after purchasing an additional 12,680 shares in the last quarter. State Street Corp grew its position in shares of Sykes Enterprises by 3.9% in the second quarter. State Street Corp now owns 1,085,236 shares of the information technology services provider’s stock valued at $36,391,000 after purchasing an additional 41,008 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Sykes Enterprises by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock valued at $1,020,000 after purchasing an additional 131 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Sykes Enterprises in the second quarter valued at $284,000. Institutional investors own 86.60% of the company’s stock.

In related news, CEO Charles E. Sykes sold 10,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles E. Sykes sold 40,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was 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 owns 285,189 shares of the company’s stock, valued at $8,889,341.13. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Sykes Enterprises, Incorporated (NASDAQ:SYKE) opened at $29.59 on Wednesday. Sykes Enterprises, Incorporated has a 52-week low of $25.77 and a 52-week high of $34.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.29 and a current ratio of 3.29. The company has a market capitalization of $1,274.06, a PE ratio of 18.45, a P/E/G ratio of 1.47 and a beta of 0.82.

Several equities analysts have recently weighed in on SYKE shares. Zacks Investment Research cut Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Sykes Enterprises presently has a consensus rating of “Hold” and an average target price of $32.00.

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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.

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Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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