BidaskClub Downgrades TTEC (NASDAQ:TTEC) to Buy

BidaskClub downgraded shares of TTEC (NASDAQ:TTEC) from a strong-buy rating to a buy rating in a research report released on Thursday, BidAskClub reports.

TTEC has been the subject of a number of other reports. Craig Hallum raised their price objective on shares of TTEC from $50.00 to $60.00 and gave the company a buy rating in a research note on Monday, June 17th. Zacks Investment Research lowered shares of TTEC from a buy rating to a hold rating in a research note on Saturday, July 27th. ValuEngine lowered shares of TTEC from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Finally, Sidoti assumed coverage on shares of TTEC in a research note on Thursday, September 19th. They set a buy rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $56.50.

NASDAQ:TTEC traded down $0.26 on Thursday, reaching $45.24. 140,909 shares of the stock traded hands, compared to its average volume of 77,315. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 30.36 and a beta of 0.69. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.89. TTEC has a 12 month low of $23.01 and a 12 month high of $50.45. The company’s fifty day simple moving average is $47.49 and its 200 day simple moving average is $42.76.

TTEC (NASDAQ:TTEC) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.23. The business had revenue of $392.52 million during the quarter, compared to analyst estimates of $376.80 million. TTEC had a net margin of 3.60% and a return on equity of 21.96%.

The business also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 27th. This is a positive change from TTEC’s previous Semi-Annual dividend of $0.25. This represents a dividend yield of 1.2%. TTEC’s payout ratio is currently 42.95%.

In other news, SVP Margaret B. Mclean sold 5,000 shares of TTEC stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $47.44, for a total value of $237,200.00. Following the completion of the sale, the senior vice president now directly owns 34,841 shares in the company, valued at $1,652,857.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Regina Paolillo sold 706 shares of TTEC stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $50.00, for a total transaction of $35,300.00. Following the completion of the sale, the chief financial officer now owns 193,497 shares of the company’s stock, valued at $9,674,850. The disclosure for this sale can be found here. Insiders sold 95,739 shares of company stock valued at $4,552,950 over the last quarter. Company insiders own 69.45% of the company’s stock.

Several hedge funds have recently made changes to their positions in TTEC. Amundi Pioneer Asset Management Inc. grew its stake in shares of TTEC by 0.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 143,099 shares of the business services provider’s stock worth $5,185,000 after acquiring an additional 561 shares during the period. WINTON GROUP Ltd bought a new stake in shares of TTEC in the second quarter worth approximately $204,000. Louisiana State Employees Retirement System bought a new stake in shares of TTEC in the second quarter worth approximately $240,000. New York State Teachers Retirement System grew its stake in shares of TTEC by 11.8% in the second quarter. New York State Teachers Retirement System now owns 12,337 shares of the business services provider’s stock worth $575,000 after acquiring an additional 1,300 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of TTEC by 305.1% in the second quarter. Bessemer Group Inc. now owns 40,100 shares of the business services provider’s stock worth $1,868,000 after acquiring an additional 30,200 shares during the period. Hedge funds and other institutional investors own 26.39% of the company’s stock.

About TTEC

TTEC Holdings, Inc designs and provides customer experience solutions in the United States, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Canada, the United Kingdom, and internationally. It operates in four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS).

Further Reading: Momentum Investing

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