TTEC (NASDAQ:TTEC) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of TTEC (NASDAQ:TTEC) from a buy rating to a hold rating in a report published on Saturday, Zacks.com reports.

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 equities research analysts have also weighed in on TTEC. Craig Hallum set a $12.00 price objective on shares of Century Casinos and gave the company a buy rating in a report on Monday, June 17th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, BidaskClub lowered shares of YY from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $56.50.

Shares of TTEC stock opened at $47.63 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.71 and a quick ratio of 1.71. TTEC has a 52 week low of $23.01 and a 52 week high of $48.80. The stock has a market cap of $2.22 billion, a PE ratio of 31.97, a PEG ratio of 3.57 and a beta of 0.70. The firm has a 50 day simple moving average of $45.65.

TTEC (NASDAQ:TTEC) last announced its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.16. TTEC had a net margin of 3.29% and a return on equity of 21.29%. The business had revenue of $394.36 million for the quarter, compared to analyst estimates of $382.90 million. On average, sell-side analysts predict that TTEC will post 1.68 earnings per share for the current fiscal year.

In related news, EVP Martin F. Deghetto sold 35,000 shares of TTEC stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $39.00, for a total transaction of $1,365,000.00. Following the sale, the executive vice president now directly owns 98,598 shares in the company, valued at approximately $3,845,322. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory A. Conley sold 750 shares of TTEC stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $36.84, for a total transaction of $27,630.00. Following the sale, the director now owns 9,536 shares in the company, valued at $351,306.24. The disclosure for this sale can be found here. Insiders sold a total of 61,067 shares of company stock worth $2,379,993 over the last 90 days. Company insiders own 69.45% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Comerica Bank raised its stake in TTEC by 2.1% during the 1st quarter. Comerica Bank now owns 13,711 shares of the business services provider’s stock worth $497,000 after acquiring an additional 286 shares in the last quarter. Texas Permanent School Fund raised its stake in TTEC by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 9,409 shares of the business services provider’s stock worth $341,000 after acquiring an additional 341 shares in the last quarter. Aperio Group LLC raised its stake in TTEC by 4.3% during the 2nd quarter. Aperio Group LLC now owns 12,494 shares of the business services provider’s stock worth $582,000 after acquiring an additional 512 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in 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 acquiring an additional 561 shares in the last quarter. Finally, Investors Research Corp acquired a new stake in TTEC during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 25.83% of the company’s stock.

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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