BidaskClub Lowers TTEC (NASDAQ:TTEC) to Hold

BidaskClub cut shares of TTEC (NASDAQ:TTEC) from a buy rating to a hold rating in a report released on Thursday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Sidoti began coverage on shares of TTEC in a research report on Thursday, September 19th. They set a buy rating on the stock. ValuEngine cut shares of TTEC from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of TTEC from a buy rating to a hold rating in a research report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $56.50.

Shares of TTEC opened at $46.75 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $2.18 billion, a P/E ratio of 27.60 and a beta of 0.69. The firm’s fifty day simple moving average is $47.45 and its two-hundred day simple moving average is $43.12. TTEC has a 12 month low of $23.01 and a 12 month high of $50.45.

TTEC (NASDAQ:TTEC) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.23. The business had revenue of $392.52 million for the quarter, compared to analysts’ expectations of $376.80 million. TTEC had a net margin of 3.60% and a return on equity of 21.96%.

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were given a dividend of $0.32 per share. The ex-dividend date was Friday, September 27th. This represents a yield of 1.2%. This is a boost from TTEC’s previous Semi-Annual dividend of $0.25. TTEC’s dividend payout ratio is 42.95%.

In other news, SVP Margaret B. Mclean sold 5,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $47.44, for a total transaction of $237,200.00. Following the transaction, the senior vice president now owns 34,841 shares of the company’s stock, valued at approximately $1,652,857.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Regina Paolillo sold 7,209 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $360,450.00. Following the transaction, the chief financial officer now directly owns 201,654 shares in the company, valued at approximately $10,082,700. The disclosure for this sale can be found here. Insiders have sold a total of 95,739 shares of company stock worth $4,552,950 in the last three months. Insiders own 69.45% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Castleark Management LLC bought a new position in TTEC in the 2nd quarter valued at about $6,587,000. Cadence Capital Management LLC bought a new position in TTEC in the 2nd quarter valued at about $3,982,000. Nuveen Asset Management LLC bought a new position in TTEC in the 2nd quarter valued at about $3,782,000. Hillsdale Investment Management Inc. bought a new position in TTEC in the 2nd quarter valued at about $3,141,000. Finally, BlackRock Inc. lifted its position in TTEC by 2.4% in the 2nd quarter. BlackRock Inc. now owns 2,094,970 shares of the business services provider’s stock valued at $97,604,000 after acquiring an additional 49,520 shares in the last quarter. 26.39% of the stock is currently owned by institutional investors.

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).

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