Sykes Enterprises, Incorporated (NASDAQ:SYKE)‘s stock had its “buy” rating restated by stock analysts at SunTrust Banks, Inc. in a report released on Monday, October 9th. They currently have a $34.00 price objective on the information technology services provider’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 14.21% from the stock’s previous close. SunTrust Banks also issued estimates for Sykes Enterprises,’s Q3 2017 earnings at $0.45 EPS, FY2017 earnings at $1.82 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.50 EPS and FY2018 earnings at $2.00 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, July 13th. Robert W. Baird reissued a “hold” rating and issued a $29.00 price objective on shares of Sykes Enterprises, in a research report on Sunday, September 17th.
Shares of Sykes Enterprises, (SYKE) opened at 29.77 on Monday. The firm has a market capitalization of $1.25 billion, a PE ratio of 18.72 and a beta of 0.84. The firm’s 50-day moving average price is $28.32 and its 200-day moving average price is $30.54. Sykes Enterprises, has a 52-week low of $25.77 and a 52-week high of $34.49.
Sykes Enterprises, (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The firm had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Sykes Enterprises, will post $1.80 earnings per share for the current fiscal year.
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In related news, CEO Charles E. Sykes sold 20,000 shares of Sykes Enterprises, stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total transaction of $525,400.00. Following the completion of the sale, the chief executive officer now owns 337,999 shares of the company’s stock, valued at approximately $8,879,233.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Smith Graham & Co. Investment Advisors LP boosted its holdings in shares of Sykes Enterprises, by 9.5% during the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 283,035 shares of the information technology services provider’s stock worth $8,253,000 after buying an additional 24,507 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Sykes Enterprises, by 143.9% during the 3rd quarter. Shell Asset Management Co. now owns 111,541 shares of the information technology services provider’s stock worth $2,229,000 after buying an additional 65,816 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Sykes Enterprises, by 7.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock worth $135,000 after buying an additional 280 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Sykes Enterprises, in the 2nd quarter valued at about $284,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Sykes Enterprises, by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,449 shares of the information technology services provider’s stock valued at $1,020,000 after purchasing an additional 131 shares during the period. 86.34% of the stock is owned by institutional investors and hedge funds.
Sykes Enterprises, Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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