Northland Securities Lowers TTEC (NASDAQ:TTEC) Price Target to $16.00

TTEC (NASDAQ:TTEC) had its price target cut by Northland Securities from $19.00 to $16.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Northland Securities’ price target indicates a potential upside of 275.59% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. StockNews.com cut TTEC from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Canaccord Genuity Group cut their target price on TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Craig Hallum dropped their price objective on TTEC from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.90.

TTEC Trading Up 4.9 %

TTEC stock traded up $0.20 during midday trading on Tuesday, reaching $4.26. The stock had a trading volume of 425,546 shares, compared to its average volume of 434,536. The firm has a market cap of $203.29 million, a price-to-earnings ratio of -16.15, a PEG ratio of 0.70 and a beta of 1.05. TTEC has a twelve month low of $3.71 and a twelve month high of $30.32. The business has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $9.72. The company has a quick ratio of 1.61, a current ratio of 1.56 and a debt-to-equity ratio of 3.06.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC increased its holdings in shares of TTEC by 89.1% during the 2nd quarter. Hsbc Holdings PLC now owns 54,327 shares of the business services provider’s stock worth $318,000 after acquiring an additional 25,595 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of TTEC during the 2nd quarter worth approximately $72,000. Federated Hermes Inc. increased 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 worth $6,941,000 after acquiring an additional 902,159 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of TTEC by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 26,965 shares of the business services provider’s stock worth $159,000 after acquiring an additional 3,756 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of TTEC by 35,988.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,518 shares of the business services provider’s stock worth $91,000 after acquiring an additional 15,475 shares during the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.

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.