Comerica Bank trimmed its stake in shares of TTEC Holdings Inc (NASDAQ:TTEC) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,830 shares of the business services provider’s stock after selling 881 shares during the quarter. Comerica Bank’s holdings in TTEC were worth $589,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTEC. BNP Paribas Arbitrage SA lifted its holdings in shares of TTEC by 513.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,216 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 2,692 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of TTEC in the 2nd quarter valued at about $204,000. Magnus Financial Group LLC purchased a new stake in shares of TTEC in the 1st quarter valued at about $226,000. SG Americas Securities LLC purchased a new stake in shares of TTEC in the 1st quarter valued at about $231,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of TTEC in the 2nd quarter valued at about $240,000. 26.43% of the stock is owned by hedge funds and other institutional investors.
In other TTEC news, EVP Martin F. Deghetto sold 5,926 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $47.00, for a total transaction of $278,522.00. Following the sale, the executive vice president now owns 96,346 shares in the company, valued at approximately $4,528,262. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Martin F. Deghetto sold 50,949 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.52, for a total value of $2,421,096.48. Following the transaction, the executive vice president now directly owns 70,397 shares in the company, valued at approximately $3,345,265.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,824 shares of company stock worth $4,157,200. 69.45% of the stock is owned by insiders.
Several analysts have commented on the company. BidaskClub downgraded TTEC from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 31st. Zacks Investment Research downgraded TTEC from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Finally, Craig Hallum upped their price objective on TTEC from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.50.
NASDAQ TTEC traded up $0.11 on Friday, hitting $47.29. 44,286 shares of the company’s stock were exchanged, compared to its average volume of 80,308. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 31.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.59 and a quick ratio of 1.59. The firm’s 50-day moving average price is $46.74 and its two-hundred day moving average price is $40.89. TTEC Holdings Inc has a fifty-two week low of $23.01 and a fifty-two week high of $49.84.
TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.23. The business had revenue of $392.52 million for the quarter, compared to analysts’ expectations of $376.80 million. TTEC had a return on equity of 21.96% and a net margin of 3.60%.
TTEC Company Profile
TTEC Holdings, Inc designs and provides customer experience solutions in the United States, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Canada, the United Kingdom, and internationally. It operates in four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS).
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