OppenheimerFunds Inc. lessened its stake in TTEC Holdings Inc (NASDAQ:TTEC) by 15.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 24,009 shares of the business services provider’s stock after selling 4,486 shares during the quarter. OppenheimerFunds Inc.’s holdings in TTEC were worth $870,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Tennessee Treasury Department raised its position in TTEC by 33.5% during the first quarter. State of Tennessee Treasury Department now owns 13,965 shares of the business services provider’s stock valued at $506,000 after acquiring an additional 3,508 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in TTEC during the first quarter valued at approximately $218,000. Campbell & CO Investment Adviser LLC bought a new position in TTEC during the first quarter valued at approximately $375,000. Swiss National Bank raised its position in TTEC by 5.4% during the first quarter. Swiss National Bank now owns 29,400 shares of the business services provider’s stock valued at $1,065,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in TTEC during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 25.76% of the company’s stock.
In other TTEC news, Director Gregory A. Conley sold 1,500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $34.67, for a total transaction of $52,005.00. Following the transaction, the director now owns 10,286 shares in the company, valued at $356,615.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory A. Conley sold 750 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $36.84, for a total value of $27,630.00. Following the transaction, the director now owns 9,536 shares in the company, valued at approximately $351,306.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,567 shares of company stock worth $2,431,998. Corporate insiders own 69.45% of the company’s stock.
TTEC stock traded up $0.34 during midday trading on Friday, hitting $36.80. 204 shares of the company traded hands, compared to its average volume of 61,617. TTEC Holdings Inc has a twelve month low of $23.01 and a twelve month high of $39.83. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.79 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.88 and a beta of 0.77.
TTEC (NASDAQ:TTEC) last announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. TTEC had a return on equity of 21.29% and a net margin of 3.29%. The company had revenue of $394.36 million for the quarter, compared to the consensus estimate of $382.90 million. As a group, equities analysts expect that TTEC Holdings Inc will post 1.68 EPS for the current fiscal year.
TTEC has been the topic of several recent research reports. Craig Hallum reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $42.00) on shares of TTEC in a research report on Thursday, May 9th. They noted that the move was a valuation call. BidaskClub raised shares of TTEC from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 22nd. Zacks Investment Research lowered shares of TTEC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 13th. ValuEngine raised shares of TTEC from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Finally, TheStreet raised shares of TTEC from a “c” rating to a “b” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. TTEC has a consensus rating of “Buy” and a consensus target price of $46.50.
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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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