TTEC (NASDAQ:TTEC) Lowered to Sell at Zacks Investment Research

TTEC (NASDAQ:TTECGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “TTEC Holdings Inc. is a customer experience technology and services company. It focuses on the design, implementation and delivery of customer experience. The Company delivers outcome-based customer engagement solutions through TTEC Digital, digital consultancy which designs and builds human centric, tech-enabled, insight-driven customer experience solutions for clients and TTEC Engage, delivery center which operates customer acquisition, care, growth and digital trust and safety services. TTEC Holdings Inc., formerly known as TeleTech Holdings Inc., is based in Englewood, Colorado. “

Several other brokerages have also recently weighed in on TTEC. Morgan Stanley cut TTEC from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $100.00 to $90.00 in a research note on Monday, January 10th. StockNews.com lowered TTEC from a “buy” rating to a “hold” rating in a research report on Friday. Craig Hallum lowered their price target on TTEC from $130.00 to $120.00 in a report on Thursday, March 3rd. Barrington Research assumed coverage on TTEC in a report on Friday, April 22nd. They issued an “outperform” rating and a $100.00 price target for the company. Finally, Canaccord Genuity Group lowered their price target on TTEC from $130.00 to $120.00 in a report on Thursday, March 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.67.

NASDAQ TTEC traded up $0.03 during trading hours on Tuesday, hitting $64.21. 1,333 shares of the company were exchanged, compared to its average volume of 141,546. The stock has a 50-day moving average price of $78.81 and a 200 day moving average price of $83.03. The company has a quick ratio of 1.57, a current ratio of 1.60 and a debt-to-equity ratio of 1.46. TTEC has a 52 week low of $62.32 and a 52 week high of $113.37. The stock has a market cap of $3.02 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.

TTEC (NASDAQ:TTECGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The business services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. TTEC had a return on equity of 26.00% and a net margin of 5.33%. The company had revenue of $588.70 million for the quarter, compared to analysts’ expectations of $573.72 million. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TTEC will post 4.58 earnings per share for the current year.

In related news, Director Gregory A. Conley sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $83.00, for a total value of $207,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 60.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of TTEC by 186.8% during the fourth quarter. First Horizon Advisors Inc. now owns 327 shares of the business services provider’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of TTEC during the first quarter worth $29,000. Covestor Ltd acquired a new position in shares of TTEC during the fourth quarter worth $50,000. AdvisorNet Financial Inc increased its position in shares of TTEC by 68.1% during the fourth quarter. AdvisorNet Financial Inc now owns 600 shares of the business services provider’s stock worth $54,000 after purchasing an additional 243 shares in the last quarter. Finally, Fieldpoint Private Securities LLC increased its position in shares of TTEC by 14.6% during the fourth quarter. Fieldpoint Private Securities LLC now owns 1,285 shares of the business services provider’s stock worth $116,000 after purchasing an additional 164 shares in the last quarter. 37.93% of the stock is currently owned by institutional investors and hedge funds.

TTEC Company Profile (Get Rating)

TTEC Holdings, Inc, a customer experience technology and services company, that designs, builds, orchestrates, and delivers digitally enabled customer experiences designed for various brands. It operates in two segments, TTEC Digital and TTEC Engage. The TTEC Digital segments designs, builds, and operates robust digital experiences for clients and their customers through the contextual integration and orchestration of customer relationship management, data, analytics, customer experience as a service technology, and intelligent automation to ensure customer experience (CX) outcomes.

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