Canaccord Genuity initiated coverage on shares of TTEC (NASDAQ:TTEC) in a research report released on Thursday morning, Anlyst Ratings reports. The brokerage issued a buy rating and a $71.00 price objective on the business services provider’s stock.
Several other research analysts have also commented on the stock. Northland Securities reissued a buy rating on shares of TTEC in a research note on Friday, August 7th. Sidoti lowered shares of TTEC from a buy rating to a neutral rating in a research note on Monday, August 10th. Bank of America lifted their price target on shares of TTEC from $59.00 to $65.00 and gave the stock a buy rating in a research note on Thursday, August 27th. Morgan Stanley lifted their price target on shares of TTEC from $47.00 to $57.00 and gave the stock an equal weight rating in a research note on Tuesday, August 11th. Finally, Zacks Investment Research upgraded shares of TTEC from a hold rating to a buy rating and set a $52.00 price target for the company in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $59.17.
NASDAQ TTEC opened at $59.57 on Thursday. The firm has a 50 day simple moving average of $55.79 and a 200-day simple moving average of $46.96. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.78 and a current ratio of 2.78. TTEC has a one year low of $26.28 and a one year high of $61.54. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.84 and a beta of 0.64.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th will be given a dividend of $0.40 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, October 13th. This is an increase from TTEC’s previous Semi-Annual dividend of $0.34. TTEC’s payout ratio is currently 42.33%.
In other news, SVP Margaret B. Mclean sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $59.00, for a total transaction of $413,000.00. Following the completion of the sale, the senior vice president now owns 36,856 shares in the company, valued at approximately $2,174,504. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Martin F. Deghetto sold 4,665 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $58.00, for a total transaction of $270,570.00. Following the sale, the executive vice president now owns 39,704 shares of the company’s stock, valued at approximately $2,302,832. The disclosure for this sale can be found here. Insiders have sold a total of 41,665 shares of company stock valued at $2,436,170 in the last 90 days. Insiders own 61.50% of the company’s stock.
Several large investors have recently modified their holdings of TTEC. Villere ST Denis J & Co. LLC purchased a new stake in shares of TTEC during the 2nd quarter worth approximately $14,461,000. Clearbridge Investments LLC acquired a new position in shares of TTEC in the 1st quarter valued at $10,947,000. Pembroke Management LTD increased its holdings in shares of TTEC by 154.2% in the 2nd quarter. Pembroke Management LTD now owns 321,061 shares of the business services provider’s stock valued at $14,949,000 after acquiring an additional 194,780 shares during the period. Federated Hermes Inc. acquired a new position in shares of TTEC in the 2nd quarter valued at $4,405,000. Finally, State Street Corp increased its holdings in shares of TTEC by 12.4% in the 1st quarter. State Street Corp now owns 528,464 shares of the business services provider’s stock valued at $19,584,000 after acquiring an additional 58,443 shares during the period. Institutional investors and hedge funds own 34.69% of the company’s stock.
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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