Allianz Asset Management GmbH decreased its position in shares of Sykes Enterprises (NASDAQ:SYKE) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,964 shares of the information technology services provider’s stock after selling 119,352 shares during the period. Allianz Asset Management GmbH owned 0.54% of Sykes Enterprises worth $7,263,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYKE. Macquarie Group Ltd. acquired a new stake in Sykes Enterprises during the third quarter valued at $124,000. Public Employees Retirement System of Ohio boosted its position in Sykes Enterprises by 7.4% during the second quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock valued at $135,000 after purchasing an additional 280 shares during the last quarter. Pillar Pacific Capital Management LLC acquired a new stake in Sykes Enterprises during the fourth quarter valued at $210,000. Eqis Capital Management Inc. acquired a new stake in Sykes Enterprises during the fourth quarter valued at $215,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Sykes Enterprises during the third quarter valued at $309,000. 88.77% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:SYKE traded down $0.51 on Friday, reaching $28.38. The company had a trading volume of 109,251 shares, compared to its average volume of 159,328. Sykes Enterprises has a twelve month low of $25.77 and a twelve month high of $34.49. The stock has a market capitalization of $1,239.35, a P/E ratio of 14.44, a P/E/G ratio of 1.44 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.58 and a quick ratio of 3.58.
Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, February 26th. The information technology services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Sykes Enterprises had a return on equity of 10.80% and a net margin of 2.03%. The company had revenue of $419.25 million during the quarter, compared to analysts’ expectations of $410.02 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. research analysts expect that Sykes Enterprises will post 2 EPS for the current fiscal year.
A number of analysts recently issued reports on SYKE shares. BidaskClub cut Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine raised Sykes Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a research report on Monday, March 5th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Sykes Enterprises currently has an average rating of “Hold” and an average price target of $32.00.
In other news, insider David Pearson sold 5,000 shares of Sykes Enterprises stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $31.25, for a total value of $156,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lawrence Zingale sold 16,776 shares of Sykes Enterprises stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $29.05, for a total value of $487,342.80. Following the completion of the transaction, the insider now owns 49,708 shares in the company, valued at $1,444,017.40. The disclosure for this sale can be found here. Insiders sold 32,776 shares of company stock valued at $994,673 in the last ninety days. Insiders own 2.70% of the company’s stock.
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About Sykes Enterprises
Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.
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