State Board of Administration of Florida Retirement System decreased its position in shares of TTEC Holdings Inc (NASDAQ:TTEC) by 35.7% in the second quarter, Holdings Channel reports. The fund owned 12,533 shares of the business services provider’s stock after selling 6,950 shares during the period. State Board of Administration of Florida Retirement System’s holdings in TTEC were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of TTEC by 513.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,216 shares of the business services provider’s stock valued at $117,000 after buying an additional 2,692 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of TTEC during the second quarter valued at about $204,000. Magnus Financial Group LLC acquired a new position in shares of TTEC during the first quarter valued at about $226,000. SG Americas Securities LLC acquired a new position in shares of TTEC during the first quarter valued at about $231,000. Finally, Louisiana State Employees Retirement System acquired a new position in shares of TTEC during the second quarter valued at about $240,000. 26.11% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on TTEC. BidaskClub lowered shares of TTEC from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 31st. Craig Hallum upped their price objective on shares of TTEC from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Zacks Investment Research lowered shares of TTEC from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.50.
In related news, EVP Martin F. Deghetto sold 50,949 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.52, for a total value of $2,421,096.48. Following the sale, the executive vice president now owns 70,397 shares of the company’s stock, valued at $3,345,265.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Martin F. Deghetto sold 25,949 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $47.03, for a total transaction of $1,220,381.47. Following the completion of the sale, the executive vice president now directly owns 70,397 shares in the company, valued at approximately $3,310,770.91. The disclosure for this sale can be found here. In the last three months, insiders sold 82,824 shares of company stock worth $3,920,000. 69.45% of the stock is currently owned by insiders.
Shares of TTEC traded up $0.85 during trading hours on Thursday, reaching $47.98. 105 shares of the company traded hands, compared to its average volume of 86,180. The stock’s fifty day moving average is $46.68 and its 200 day moving average is $40.41. The stock has a market cap of $2.16 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 3.46 and a beta of 0.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.59 and a current ratio of 1.59. TTEC Holdings Inc has a 1-year low of $23.01 and a 1-year high of $49.84.
TTEC (NASDAQ:TTEC) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.23. The business had revenue of $392.52 million during the quarter, compared to analyst estimates of $376.80 million. TTEC had a net margin of 3.60% and a return on equity of 21.96%. On average, equities research analysts predict that TTEC Holdings Inc will post 1.68 EPS for the current year.
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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