Short Interest in TTEC Holdings, Inc. (NASDAQ:TTEC) Rises By 66.3%

TTEC Holdings, Inc. (NASDAQ:TTEC) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,210,000 shares, an increase of 66.3% from the March 31st total of 1,930,000 shares. Based on an average daily volume of 362,300 shares, the days-to-cover ratio is presently 8.9 days. Approximately 16.8% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group downgraded TTEC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Guggenheim assumed coverage on TTEC in a research report on Tuesday, March 19th. They set a “sell” rating and a $8.00 target price for the company. Canaccord Genuity Group reiterated a “hold” rating and set a $13.00 target price (down from $30.00) on shares of TTEC in a research report on Wednesday, March 6th. Finally, Barrington Research downgraded TTEC from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.00.

Hedge Funds Weigh In On TTEC

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTEC. Covestor Ltd grew its stake in TTEC by 43,433.3% in the third quarter. Covestor Ltd now owns 1,306 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,303 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of TTEC by 128.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,854 shares of the business services provider’s stock worth $62,000 after acquiring an additional 1,607 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of TTEC by 62.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,084 shares of the business services provider’s stock worth $81,000 after acquiring an additional 1,185 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of TTEC during the fourth quarter worth about $96,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of TTEC during the first quarter worth about $177,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

TTEC Stock Performance

TTEC stock opened at $7.72 on Monday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.69 and a quick ratio of 1.69. The business has a 50-day moving average price of $11.26 and a 200 day moving average price of $17.06. The company has a market capitalization of $366.31 million, a P/E ratio of 42.89, a PEG ratio of 0.83 and a beta of 0.99. TTEC has a 1-year low of $7.66 and a 1-year high of $36.70.

TTEC (NASDAQ:TTEC) last released its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). TTEC had a net margin of 0.34% and a return on equity of 13.74%. The firm had revenue of $626.18 million during the quarter, compared to the consensus estimate of $602.98 million. As a group, equities research analysts forecast that TTEC will post 1.16 EPS for the current fiscal year.

TTEC Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 3rd will be paid a $0.06 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a yield of 4.6%. TTEC’s dividend payout ratio (DPR) is presently 66.67%.

About TTEC

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.