TTEC (NASDAQ:TTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm presently has a $46.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.19% from the company’s current price.
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. “
A number of other research analysts have also recently issued reports on TTEC. Cowen began coverage on shares of TTEC in a research report on Friday, January 17th. They set an “outperform” rating and a $50.00 price target for the company. Northland Securities began coverage on shares of TTEC in a research report on Wednesday, January 8th. They set an “outperform” rating and a $60.00 price target for the company. Bank of America began coverage on shares of TTEC in a research report on Tuesday, January 14th. They set a “buy” rating and a $48.00 price target for the company. William Blair began coverage on shares of TTEC in a research note on Monday, December 30th. They set an “outperform” rating for the company. Finally, BidaskClub lowered shares of TTEC from a “hold” rating to a “sell” rating in a research note on Friday. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $52.80.
TTEC (NASDAQ:TTEC) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.08. TTEC had a net margin of 4.32% and a return on equity of 23.39%. The business had revenue of $395.51 million for the quarter. Analysts predict that TTEC will post 1.88 EPS for the current fiscal year.
In related news, CFO Regina Paolillo sold 8,588 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $50.01, for a total value of $429,485.88. Following the sale, the chief financial officer now directly owns 184,909 shares in the company, valued at approximately $9,247,299.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kenneth D. Tuchman sold 3,000,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $36.50, for a total transaction of $109,500,000.00. Following the completion of the sale, the chief executive officer now owns 3,686,901 shares in the company, valued at $134,571,886.50. The disclosure for this sale can be found here. Insiders sold 3,458,588 shares of company stock worth $126,354,486 in the last three months. Insiders own 69.45% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in TTEC during the third quarter valued at about $60,000. Royal Bank of Canada raised its holdings in TTEC by 63.2% in the 2nd quarter. Royal Bank of Canada now owns 1,532 shares of the business services provider’s stock valued at $71,000 after buying an additional 593 shares during the period. FNY Investment Advisers LLC acquired a new position in TTEC in the 4th quarter valued at about $130,000. Point72 Asset Management L.P. acquired a new position in TTEC in the 3rd quarter valued at about $139,000. Finally, Bank of Montreal Can grew its position in TTEC by 99.4% in the 2nd quarter. Bank of Montreal Can now owns 3,276 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 1,633 shares in the last quarter. 26.47% of the stock is owned by institutional investors.
TTEC Company Profile
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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