Sykes Enterprises, Incorporated (SYKE) Position Lowered by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,133 shares of the company’s stock after selling 17,970 shares during the period. Prudential Financial Inc. owned approximately 0.22% of Sykes Enterprises, worth $2,564,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SYKE. PineBridge Investments L.P. increased its stake in shares of Sykes Enterprises, by 3.4% in the second quarter. PineBridge Investments L.P. now owns 4,918 shares of the company’s stock worth $142,000 after buying an additional 161 shares during the period. Teacher Retirement System of Texas increased its position in shares of Sykes Enterprises, by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,374 shares of the company’s stock worth $156,000 after buying an additional 650 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in shares of Sykes Enterprises, by 11.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,700 shares of the company’s stock worth $165,000 after buying an additional 600 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Sykes Enterprises, during the second quarter worth approximately $220,000. Finally, BlackRock Inc. increased its position in shares of Sykes Enterprises, by 173.1% in the second quarter. BlackRock Inc. now owns 10,233 shares of the company’s stock worth $296,000 after buying an additional 6,486 shares during the last quarter. 85.01% of the stock is currently owned by institutional investors.
Sykes Enterprises, Incorporated (NASDAQ:SYKE) traded down 0.25% on Friday, hitting $28.31. The stock had a trading volume of 136,074 shares. The firm has a market cap of $1.19 billion, a P/E ratio of 18.62 and a beta of 0.77. The firm’s 50-day moving average price is $28.97 and its 200-day moving average price is $28.81. Sykes Enterprises, Incorporated has a 1-year low of $25.77 and a 1-year high of $31.37.
Sykes Enterprises, (NASDAQ:SYKE) last announced its earnings results on Monday, October 31st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. Sykes Enterprises, had a return on equity of 11.19% and a net margin of 4.57%. The firm earned $385.70 million during the quarter, compared to the consensus estimate of $388.96 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that Sykes Enterprises, Incorporated will post $1.81 earnings per share for the current year.
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Separately, Zacks Investment Research downgraded Sykes Enterprises, from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Sykes Enterprises, has an average rating of “Hold” and a consensus price target of $34.00.
Sykes Enterprises, Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing arena. The Company provides an array of customer contact management solutions to a range of clients in communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals.
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