TTEC (NASDAQ:TTEC) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of TTEC (NASDAQ:TTEC) from a hold rating to a sell rating in a research note published on Tuesday morning.

TTEC has been the subject of several other research reports. Northland Securities decreased their price objective on shares of TTEC from $19.00 to $16.00 and set an outperform rating for the company in a research note on Tuesday, August 13th. Canaccord Genuity Group decreased their price target on TTEC from $8.00 to $4.50 and set a hold rating for the company in a research note on Tuesday, August 13th. Finally, Craig Hallum cut their price objective on TTEC from $18.00 to $13.00 and set a buy rating on the stock in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $11.90.

TTEC Stock Performance

NASDAQ TTEC opened at $5.11 on Tuesday. The business’s 50 day moving average price is $5.92 and its 200-day moving average price is $8.40. TTEC has a fifty-two week low of $3.71 and a fifty-two week high of $30.32. The company has a market cap of $243.02 million, a P/E ratio of -19.65, a P/E/G ratio of 2.88 and a beta of 1.05. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.56 and a current ratio of 1.56.

TTEC (NASDAQ:TTEC) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.14). TTEC had a positive return on equity of 7.38% and a negative net margin of 13.39%. The firm had revenue of $534.09 million for the quarter, compared to analysts’ expectations of $554.67 million. Sell-side analysts predict that TTEC will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On TTEC

Several hedge funds have recently made changes to their positions in TTEC. Quadrant Capital Group LLC lifted its stake in TTEC by 128.9% in 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. PNC Financial Services Group Inc. lifted its position in shares of TTEC by 42.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,407 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,323 shares during the period. Quest Partners LLC bought a new position in shares of TTEC during the fourth quarter valued at approximately $96,000. State Board of Administration of Florida Retirement System purchased a new position in TTEC during the first quarter valued at approximately $86,000. Finally, EntryPoint Capital LLC bought a new position in TTEC in the first quarter worth approximately $88,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

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.