Sykes Enterprises (NASDAQ:SYKE) had its price objective decreased by Sidoti from $39.00 to $36.00 in a research note released on Wednesday, BenzingaRatingsTable reports. Sidoti currently has a buy rating on the information technology services provider’s stock.
Several other research firms have also issued reports on SYKE. SunTrust Banks lowered Sykes Enterprises from a buy rating to a hold rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Friday, April 12th. TheStreet upgraded Sykes Enterprises from a c+ rating to a b- rating in a research report on Wednesday, July 24th. Finally, BidaskClub upgraded Sykes Enterprises from a hold rating to a buy rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Sykes Enterprises has an average rating of Hold and a consensus target price of $33.50.
SYKE traded up $0.09 on Wednesday, hitting $28.09. 134,336 shares of the company were exchanged, compared to its average volume of 125,623. The stock’s fifty day moving average price is $27.57. The company has a quick ratio of 2.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.33. Sykes Enterprises has a 12 month low of $22.67 and a 12 month high of $31.47. The company has a market capitalization of $1.20 billion, a PE ratio of 13.91, a PEG ratio of 1.32 and a beta of 0.84.
Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.11. Sykes Enterprises had a return on equity of 10.36% and a net margin of 3.35%. The business had revenue of $389.00 million for the quarter, compared to analyst estimates of $395.88 million. During the same period last year, the company earned $0.42 EPS. Sykes Enterprises’s revenue for the quarter was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Sykes Enterprises will post 2.08 earnings per share for the current year.
Several hedge funds have recently modified their holdings of SYKE. United Services Automobile Association grew its position in shares of Sykes Enterprises by 6.5% in the 4th quarter. United Services Automobile Association now owns 11,415 shares of the information technology services provider’s stock worth $282,000 after buying an additional 693 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Sykes Enterprises by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 650,908 shares of the information technology services provider’s stock worth $16,096,000 after buying an additional 53,567 shares during the last quarter. Mackay Shields LLC bought a new stake in shares of Sykes Enterprises during the fourth quarter valued at approximately $222,000. Principal Financial Group Inc. boosted its position in shares of Sykes Enterprises by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 323,012 shares of the information technology services provider’s stock valued at $7,988,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Sykes Enterprises by 351.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,760 shares of the information technology services provider’s stock valued at $316,000 after purchasing an additional 9,934 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.
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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