IndexIQ Advisors LLC Reduces Stock Position in TTEC Holdings Inc (NASDAQ:TTEC)

IndexIQ Advisors LLC cut its stake in TTEC Holdings Inc (NASDAQ:TTEC) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,388 shares of the business services provider’s stock after selling 7,105 shares during the period. IndexIQ Advisors LLC’s holdings in TTEC were worth $887,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TTEC. State Street Corp increased its stake in shares of TTEC by 2.1% during the 3rd quarter. State Street Corp now owns 439,809 shares of the business services provider’s stock worth $21,199,000 after purchasing an additional 8,869 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of TTEC by 25.4% during the 4th quarter. Principal Financial Group Inc. now owns 148,507 shares of the business services provider’s stock worth $5,884,000 after purchasing an additional 30,117 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of TTEC by 0.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 143,099 shares of the business services provider’s stock worth $5,185,000 after purchasing an additional 561 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of TTEC during the 2nd quarter worth approximately $3,782,000. Finally, First Trust Advisors LP purchased a new position in shares of TTEC during the 4th quarter worth approximately $2,761,000. 26.50% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on TTEC. Bank of America began coverage on shares of TTEC in a research note on Tuesday, January 14th. They set a “buy” rating and a $48.00 price objective for the company. BidaskClub raised shares of TTEC from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Northland Securities began coverage on shares of TTEC in a research note on Wednesday, January 8th. They set an “outperform” rating and a $60.00 price objective for the company. Cowen began coverage on shares of TTEC in a research note on Friday, January 17th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, William Blair began coverage on shares of TTEC in a research note on Monday, December 30th. They set an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $52.80.

TTEC stock opened at $43.80 on Friday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 29.40, a PEG ratio of 1.99 and a beta of 0.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 1.44. TTEC Holdings Inc has a one year low of $30.53 and a one year high of $50.45. The company has a 50 day moving average price of $40.71 and a two-hundred day moving average price of $44.22.

In other TTEC news, CEO Kenneth D. Tuchman sold 450,000 shares of TTEC stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $36.50, for a total value of $16,425,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,686,901 shares of the company’s stock, valued at approximately $244,071,886.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth D. Tuchman sold 3,000,000 shares of TTEC stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 directly owns 3,686,901 shares of the company’s stock, valued at $134,571,886.50. The disclosure for this sale can be found here. 69.45% of the stock is currently owned by insiders.

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).

See Also: What is diluted earnings per share (Diluted EPS)?

Institutional Ownership by Quarter for TTEC (NASDAQ:TTEC)

Receive News & Ratings for TTEC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TTEC and related companies with MarketBeat.com's FREE daily email newsletter.