First Manhattan Co. cut its stake in TTEC Holdings Inc (NASDAQ:TTEC) by 3.9% in the first quarter, Holdings Channel reports. The fund owned 32,117 shares of the business services provider’s stock after selling 1,307 shares during the period. First Manhattan Co.’s holdings in TTEC were worth $1,163,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of TTEC by 0.5% during the fourth quarter. BlackRock Inc. now owns 2,059,908 shares of the business services provider’s stock worth $58,852,000 after buying an additional 10,332 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TTEC by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,456,089 shares of the business services provider’s stock worth $41,599,000 after buying an additional 44,725 shares during the last quarter. Boston Partners raised its stake in shares of TTEC by 6.3% during the fourth quarter. Boston Partners now owns 1,444,015 shares of the business services provider’s stock worth $41,255,000 after buying an additional 85,541 shares during the last quarter. Norges Bank bought a new stake in shares of TTEC during the fourth quarter worth approximately $13,476,000. Finally, Segall Bryant & Hamill LLC raised its stake in shares of TTEC by 0.4% during the fourth quarter. Segall Bryant & Hamill LLC now owns 369,769 shares of the business services provider’s stock worth $10,564,000 after buying an additional 1,634 shares during the last quarter. 26.86% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on TTEC shares. BidaskClub raised shares of TTEC from a “hold” rating to a “buy” rating in a research note on Friday, December 28th. Zacks Investment Research downgraded shares of TTEC from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. TheStreet raised shares of TTEC from a “c” rating to a “b” rating in a research note on Wednesday, March 20th. Finally, ValuEngine raised shares of TTEC from a “hold” rating to a “buy” rating in a research note on Monday, April 1st.
TTEC (NASDAQ:TTEC) last posted its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.13). The business had revenue of $419.13 million for the quarter, compared to the consensus estimate of $410.19 million. TTEC had a return on equity of 20.37% and a net margin of 2.37%. On average, equities research analysts anticipate that TTEC Holdings Inc will post 1.65 earnings per share for the current fiscal year.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 27th. This represents a yield of 1.69%. This is a boost from TTEC’s previous semiannual dividend of $0.28. TTEC’s payout ratio is currently 40.27%.
In related news, Director Gregory A. Conley sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.67, for a total transaction of $52,005.00. Following the completion of 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 can be accessed through the SEC website. 69.60% of the stock is currently owned by insiders.
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TTEC Holdings, Inc designs, builds, and operates omni-channel customer experiences. It operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS). The CMS segment offers customer experience delivery solutions, which integrate technology with customer experience professionals to optimize the customer experience across various channels and stages of the customer lifecycle from an onshore, offshore, or work-from-home environments.
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