BidaskClub Lowers Sykes Enterprises (NASDAQ:SYKE) to Hold

BidaskClub cut shares of Sykes Enterprises (NASDAQ:SYKE) from a buy rating to a hold rating in a research report sent to investors on Friday morning, BidAskClub reports.

Several other research analysts have also recently issued reports on the stock. TheStreet raised shares of Sykes Enterprises from a c+ rating to a b- rating in a report on Wednesday, July 24th. Sidoti cut their price target on shares of Sykes Enterprises from $39.00 to $36.00 and set a buy rating for the company in a report on Wednesday, July 31st. Finally, ValuEngine raised shares of Sykes Enterprises from a sell rating to a hold rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Sykes Enterprises currently has a consensus rating of Hold and an average target price of $33.33.

Shares of SYKE traded up $0.06 during mid-day trading on Friday, hitting $29.50. 67,397 shares of the company’s stock were exchanged, compared to its average volume of 153,360. Sykes Enterprises has a fifty-two week low of $22.67 and a fifty-two week high of $31.76. The firm has a market capitalization of $1.21 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.39 and a beta of 0.83. The business’s 50 day moving average is $29.93 and its two-hundred day moving average is $27.99. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.32.

Sykes Enterprises (NASDAQ:SYKE) last announced its earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.11. Sykes Enterprises had a net margin of 3.35% and a return on equity of 10.36%. The business had revenue of $389.00 million during the quarter, compared to the consensus estimate of $395.88 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Sykes Enterprises will post 2.1 earnings per share for the current year.

In related news, insider David Pearson sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $29.05, for a total transaction of $145,250.00. Following the completion of the transaction, the insider now directly owns 57,457 shares of the company’s stock, valued at $1,669,125.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC increased its holdings in Sykes Enterprises by 2.8% in the second quarter. SG Americas Securities LLC now owns 27,748 shares of the information technology services provider’s stock valued at $762,000 after buying an additional 756 shares in the last quarter. Capital Bank & Trust Co increased its holdings in Sykes Enterprises by 8.1% in the second quarter. Capital Bank & Trust Co now owns 13,153 shares of the information technology services provider’s stock valued at $361,000 after buying an additional 984 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Sykes Enterprises by 2.5% in the second quarter. Jacobs Levy Equity Management Inc. now owns 50,442 shares of the information technology services provider’s stock valued at $1,385,000 after buying an additional 1,210 shares in the last quarter. Intrepid Capital Management Inc. increased its holdings in Sykes Enterprises by 0.6% in the second quarter. Intrepid Capital Management Inc. now owns 232,983 shares of the information technology services provider’s stock valued at $6,398,000 after buying an additional 1,355 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Sykes Enterprises by 9.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 18,120 shares of the information technology services provider’s stock valued at $497,000 after buying an additional 1,530 shares in the last quarter. 89.88% of the stock is owned by institutional investors.

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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