Bank of New York Mellon Corp decreased its stake in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462,327 shares of the information technology services provider’s stock after selling 6,781 shares during the period. Bank of New York Mellon Corp’s holdings in Sykes Enterprises were worth $12,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Sykes Enterprises by 3.0% in the first quarter. Victory Capital Management Inc. now owns 2,390,479 shares of the information technology services provider’s stock valued at $64,830,000 after acquiring an additional 70,523 shares during the period. LSV Asset Management grew its stake in Sykes Enterprises by 15.9% during the 2nd quarter. LSV Asset Management now owns 1,505,338 shares of the information technology services provider’s stock worth $41,637,000 after buying an additional 206,023 shares during the last quarter. State Street Corp grew its stake in Sykes Enterprises by 5.8% during the 1st quarter. State Street Corp now owns 1,325,657 shares of the information technology services provider’s stock worth $35,952,000 after buying an additional 73,024 shares during the last quarter. Acadian Asset Management LLC grew its stake in Sykes Enterprises by 8.1% during the 1st quarter. Acadian Asset Management LLC now owns 659,922 shares of the information technology services provider’s stock worth $17,898,000 after buying an additional 49,176 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Sykes Enterprises by 4.1% in the first quarter. Geode Capital Management LLC now owns 656,974 shares of the information technology services provider’s stock worth $17,817,000 after purchasing an additional 25,816 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

SYKE stock opened at $32.68 on Wednesday. Sykes Enterprises, Incorporated has a 52-week low of $22.12 and a 52-week high of $38.24. The company’s 50 day simple moving average is $32.28 and its 200-day simple moving average is $28.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.70 and a beta of 0.96.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 3rd. The information technology services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.49. Sykes Enterprises had a net margin of 4.68% and a return on equity of 11.50%. The business had revenue of $416.80 million for the quarter, compared to analyst estimates of $378.31 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Sykes Enterprises, Incorporated will post 2.36 EPS for the current fiscal year.

Several equities research analysts have commented on SYKE shares. BidaskClub cut shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Thursday, September 3rd. Barrington Research reiterated a “hold” rating on shares of Sykes Enterprises in a report on Monday, August 10th. TheStreet upgraded shares of Sykes Enterprises from a “c+” rating to a “b-” rating in a report on Monday, August 10th. Zacks Investment Research upgraded shares of Sykes Enterprises from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a report on Saturday, August 8th. Finally, Robert W. Baird upgraded shares of Sykes Enterprises from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Thursday, June 4th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Sykes Enterprises presently has a consensus rating of “Hold” and a consensus price target of $37.33.

In related news, EVP Lawrence Zingale sold 4,700 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $32.00, for a total transaction of $150,400.00. Following the transaction, the executive vice president now directly owns 66,076 shares of the company’s stock, valued at $2,114,432. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

See Also: Return on Equity (ROE)

Want to see what other hedge funds are holding SYKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sykes Enterprises, Incorporated (NASDAQ:SYKE).

Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

Receive News & Ratings for Sykes Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sykes Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.