Analysts Set Sykes Enterprises, Incorporated (NASDAQ:SYKE) Price Target at $36.50

Sykes Enterprises, Incorporated (NASDAQ:SYKE) has been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $36.50.

SYKE has been the topic of a number of recent analyst reports. Zacks Investment Research cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Sidoti cut Sykes Enterprises from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Monday, November 11th. They noted that the move was a valuation call. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, ValuEngine cut Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th.

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in Sykes Enterprises by 16.2% during the second quarter. Victory Capital Management Inc. now owns 2,214,403 shares of the information technology services provider’s stock worth $60,808,000 after purchasing an additional 307,980 shares in the last quarter. Northern Trust Corp raised its holdings in Sykes Enterprises by 1.6% during the second quarter. Northern Trust Corp now owns 854,691 shares of the information technology services provider’s stock worth $23,470,000 after purchasing an additional 13,176 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Sykes Enterprises by 0.4% during the second quarter. Renaissance Technologies LLC now owns 644,077 shares of the information technology services provider’s stock worth $17,686,000 after purchasing an additional 2,504 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Sykes Enterprises by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 530,069 shares of the information technology services provider’s stock worth $14,555,000 after purchasing an additional 5,650 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Sykes Enterprises during the second quarter worth approximately $8,507,000. 89.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SYKE traded down $0.21 during mid-day trading on Thursday, reaching $36.32. 113,894 shares of the company’s stock traded hands, compared to its average volume of 167,853. The business’s 50-day moving average price is $36.16 and its 200-day moving average price is $31.57. The stock has a market capitalization of $1.50 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.17 and a current ratio of 2.17. Sykes Enterprises has a 12 month low of $24.54 and a 12 month high of $38.24.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, November 4th. The information technology services provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.09. The company had revenue of $397.50 million for the quarter, compared to analysts’ expectations of $401.73 million. Sykes Enterprises had a return on equity of 10.08% and a net margin of 3.62%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Sykes Enterprises will post 2.1 EPS for the current year.

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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