First Quadrant L P CA purchased a new stake in Sykes Enterprises, Incorporated (NASDAQ:SYKE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,810 shares of the information technology services provider’s stock, valued at approximately $244,000.
A number of other institutional investors also recently added to or reduced their stakes in SYKE. Norges Bank bought a new position in Sykes Enterprises in the 4th quarter valued at about $33,994,000. Matarin Capital Management LLC bought a new position in Sykes Enterprises in the 1st quarter valued at about $2,912,000. State Street Corp grew its position in shares of Sykes Enterprises by 5.8% during the 1st quarter. State Street Corp now owns 1,325,657 shares of the information technology services provider’s stock worth $35,952,000 after purchasing an additional 73,024 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Sykes Enterprises by 3.0% during the 1st quarter. Victory Capital Management Inc. now owns 2,390,479 shares of the information technology services provider’s stock worth $64,830,000 after purchasing an additional 70,523 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Sykes Enterprises by 24.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 266,298 shares of the information technology services provider’s stock worth $7,222,000 after purchasing an additional 52,043 shares in the last quarter. 89.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Robert W. Baird upgraded shares of Sykes Enterprises from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Thursday, June 4th. BidaskClub lowered shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Zacks Investment Research upgraded shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $36.33.
NASDAQ SYKE opened at $27.46 on Friday. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 2.12 and a beta of 0.84. The firm’s 50 day simple moving average is $26.82 and its 200 day simple moving average is $28.98. Sykes Enterprises, Incorporated has a 1 year low of $22.12 and a 1 year high of $38.24.
Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Monday, May 4th. The information technology services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $411.17 million for the quarter, compared to analyst estimates of $415.35 million. Sykes Enterprises had a return on equity of 10.26% and a net margin of 4.09%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. On average, equities research analysts forecast that Sykes Enterprises, Incorporated will post 1.62 earnings per share for the current year.
In related news, CFO John Chapman sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $31.30, for a total transaction of $313,000.00. Following the sale, the chief financial officer now owns 41,659 shares in the company, valued at approximately $1,303,926.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.40% of the company’s stock.
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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