TTEC (NASDAQ:TTEC) Lowered to “Sell” at StockNews.com

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

Several other equities research analysts have also recently commented on the company. Canaccord Genuity Group cut their price target on TTEC from $13.00 to $8.00 and set a hold rating for the company in a research note on Friday, May 10th. Craig Hallum cut their price target on TTEC from $18.00 to $13.00 and set a buy rating for the company in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $15.60.

TTEC Stock Performance

NASDAQ TTEC traded down $0.67 on Thursday, reaching $4.51. The stock had a trading volume of 1,695,799 shares, compared to its average volume of 431,418. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.61 and a current ratio of 1.61. TTEC has a 12-month low of $3.71 and a 12-month high of $30.32. The business’s 50-day moving average price is $6.58 and its 200 day moving average price is $10.13. The stock has a market cap of $214.50 million, a P/E ratio of -14.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

TTEC (NASDAQ:TTEC) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). TTEC had a negative net margin of 0.52% and a positive return on equity of 9.61%. The firm had revenue of $576.64 million during the quarter, compared to analysts’ expectations of $564.37 million. As a group, equities analysts expect that TTEC will post 1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in TTEC by 128.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,854 shares of the business services provider’s stock worth $62,000 after acquiring an additional 1,607 shares during the period. Nisa Investment Advisors LLC grew its holdings in TTEC by 280.3% in the second quarter. Nisa Investment Advisors LLC now owns 13,309 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 9,809 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in TTEC in the first quarter valued at $86,000. EntryPoint Capital LLC acquired a new stake in TTEC in the first quarter valued at $88,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in TTEC by 35,988.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,518 shares of the business services provider’s stock valued at $91,000 after purchasing an additional 15,475 shares during the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

About TTEC

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.