Bank of Montreal Can boosted its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 27.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,340 shares of the information technology services provider’s stock after purchasing an additional 20,214 shares during the period. Bank of Montreal Can owned about 0.22% of Sykes Enterprises worth $2,876,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Sykes Enterprises by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 98,732 shares of the information technology services provider’s stock valued at $2,842,000 after purchasing an additional 2,152 shares in the last quarter. United Services Automobile Association increased its stake in Sykes Enterprises by 37.9% in the 2nd quarter. United Services Automobile Association now owns 13,698 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 3,765 shares in the last quarter. Legal & General Group Plc increased its stake in Sykes Enterprises by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 84,719 shares of the information technology services provider’s stock valued at $2,448,000 after purchasing an additional 4,017 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Sykes Enterprises in the 2nd quarter valued at approximately $124,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Sykes Enterprises by 59.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,900 shares of the information technology services provider’s stock valued at $342,000 after purchasing an additional 4,431 shares in the last quarter. 87.55% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on SYKE shares. BidaskClub raised Sykes Enterprises from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a research note on Tuesday, October 30th. ValuEngine downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet downgraded Sykes Enterprises from a “b-” rating to a “c+” rating in a research note on Tuesday, August 21st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Sykes Enterprises in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $33.00.
Shares of NASDAQ:SYKE opened at $27.13 on Wednesday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.48 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.90 and a current ratio of 2.90. Sykes Enterprises, Incorporated has a one year low of $25.90 and a one year high of $32.15.
Sykes Enterprises (NASDAQ:SYKE) last announced its earnings results on Monday, November 5th. The information technology services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $399.30 million for the quarter, compared to analysts’ expectations of $404.79 million. Sykes Enterprises had a return on equity of 10.28% and a net margin of 1.39%. Sykes Enterprises’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, equities research analysts forecast that Sykes Enterprises, Incorporated will post 2.07 earnings per share for the current year.
In other Sykes Enterprises news, VP James T. Holder sold 8,300 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $30.05, for a total transaction of $249,415.00. Following the sale, the vice president now owns 19,706 shares in the company, valued at approximately $592,165.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by corporate insiders.
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Sykes Enterprises Company Profile
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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