Mackay Shields LLC lowered its position in TTEC Holdings Inc (NASDAQ:TTEC) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,420 shares of the business services provider’s stock after selling 300 shares during the quarter. Mackay Shields LLC’s holdings in TTEC were worth $355,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of TTEC by 63.2% in the second quarter. Royal Bank of Canada now owns 1,532 shares of the business services provider’s stock worth $71,000 after purchasing an additional 593 shares during the period. Bank of Montreal Can increased its holdings in shares of TTEC by 99.4% in the second quarter. Bank of Montreal Can now owns 3,276 shares of the business services provider’s stock worth $154,000 after purchasing an additional 1,633 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of TTEC in the second quarter worth $240,000. Everence Capital Management Inc. bought a new position in shares of TTEC in the second quarter worth $250,000. Finally, Menta Capital LLC bought a new position in shares of TTEC in the second quarter worth $255,000. 26.01% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on TTEC shares. Zacks Investment Research cut shares of TTEC from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. ValuEngine cut shares of TTEC from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub cut shares of TTEC from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Sidoti started coverage on TTEC in a research note on Thursday, September 19th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $56.50.
TTEC (NASDAQ:TTEC) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.08. The business had revenue of $395.51 million for the quarter. TTEC had a return on equity of 23.39% and a net margin of 4.32%.
In related news, CFO Regina Paolillo sold 8,588 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $50.01, for a total value of $429,485.88. Following the transaction, the chief financial officer now owns 184,909 shares of the company’s stock, valued at $9,247,299.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Margaret B. Mclean sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.44, for a total value of $237,200.00. Following the completion of the transaction, the senior vice president now directly owns 34,841 shares in the company, valued at approximately $1,652,857.04. The disclosure for this sale can be found here. In the last three months, insiders sold 21,503 shares of company stock worth $1,062,436. 69.45% of the stock is owned by insiders.
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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