TeleTech (NASDAQ:TTEC) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of TeleTech (NASDAQ:TTEC) from a hold rating to a buy rating in a report issued on Saturday, January 6th. The brokerage currently has $45.00 target price on the business services provider’s stock.

According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “

TTEC has been the subject of a number of other reports. ValuEngine lowered shares of TeleTech from a buy rating to a hold rating in a research note on Friday, December 1st. SunTrust Banks reiterated a hold rating and issued a $43.00 price target on shares of TeleTech in a research note on Monday, October 9th. Finally, BidaskClub raised shares of TeleTech from a sell rating to a hold rating in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. TeleTech presently has a consensus rating of Hold and an average target price of $44.00.

TeleTech (NASDAQ:TTEC) opened at $40.30 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.64. TeleTech has a twelve month low of $28.20 and a twelve month high of $43.75. The company has a market cap of $1,847.72, a price-to-earnings ratio of 38.38, a P/E/G ratio of 1.99 and a beta of 0.89.

TeleTech (NASDAQ:TTEC) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The firm had revenue of $359.04 million during the quarter, compared to analysts’ expectations of $348.94 million. TeleTech had a net margin of 3.45% and a return on equity of 19.24%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. research analysts forecast that TeleTech will post 1.75 earnings per share for the current year.

In other news, SVP Steven C. Pollema sold 9,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 70.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stevens Capital Management LP acquired a new position in TeleTech in the 2nd quarter worth approximately $201,000. Municipal Employees Retirement System of Michigan grew its stake in shares of TeleTech by 43.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,350 shares of the business services provider’s stock worth $223,000 after purchasing an additional 1,620 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of TeleTech by 88.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock worth $240,000 after purchasing an additional 2,759 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of TeleTech during the 2nd quarter worth approximately $245,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of TeleTech during the 2nd quarter worth approximately $263,000. Hedge funds and other institutional investors own 24.80% of the company’s stock.

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TeleTech Company Profile

TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).

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