TTEC (NASDAQ:TTEC) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of TTEC (NASDAQ:TTEC) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other research firms have also issued reports on TTEC. Canaccord Genuity Group lowered their target price on TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Northland Securities dropped their price target on TTEC from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Guggenheim raised TTEC from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.90.

TTEC Stock Performance

Shares of NASDAQ TTEC traded down $0.15 during midday trading on Thursday, reaching $4.65. 236,232 shares of the company traded hands, compared to its average volume of 546,092. TTEC has a 52 week low of $3.67 and a 52 week high of $22.69. The stock has a 50-day moving average price of $5.07 and a 200 day moving average price of $5.98. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $221.90 million, a price-to-earnings ratio of -0.67, a PEG ratio of 3.06 and a beta of 1.05.

TTEC (NASDAQ:TTEC) last released its earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). The firm had revenue of $534.09 million for the quarter, compared to analyst estimates of $554.67 million. TTEC had a positive return on equity of 4.47% and a negative net margin of 14.69%. Sell-side analysts anticipate that TTEC will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TTEC

Several institutional investors and hedge funds have recently bought and sold shares of TTEC. Vanguard Group Inc. lifted its holdings in shares of TTEC by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,570,247 shares of the business services provider’s stock valued at $26,653,000 after buying an additional 160,567 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of TTEC by 324.2% during the 2nd quarter. Federated Hermes Inc. now owns 1,180,409 shares of the business services provider’s stock valued at $6,941,000 after buying an additional 902,159 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of TTEC by 77.6% during the 3rd quarter. Royce & Associates LP now owns 788,622 shares of the business services provider’s stock valued at $4,629,000 after buying an additional 344,496 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of TTEC by 227.2% during the 2nd quarter. AQR Capital Management LLC now owns 630,908 shares of the business services provider’s stock valued at $3,710,000 after buying an additional 438,072 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of TTEC by 26.0% during the 1st quarter. ProShare Advisors LLC now owns 364,840 shares of the business services provider’s stock valued at $3,783,000 after buying an additional 75,212 shares during the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

TTEC Company Profile

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.