Riverhead Capital Management LLC Boosts Stake in Sykes Enterprises, Incorporated (SYKE)
Riverhead Capital Management LLC lifted its holdings in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 57.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631 shares of the information technology services provider’s stock after buying an additional 1,331 shares during the period. Riverhead Capital Management LLC’s holdings in Sykes Enterprises, were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of SYKE. BlackRock Inc. raised its stake in Sykes Enterprises, by 48,788.9% during the first quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock worth $142,885,000 after purchasing an additional 4,850,102 shares during the period. LSV Asset Management raised its stake in Sykes Enterprises, by 62.1% during the second quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock worth $43,246,000 after purchasing an additional 494,155 shares during the period. Dimensional Fund Advisors LP raised its stake in Sykes Enterprises, by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,604,490 shares of the information technology services provider’s stock worth $105,971,000 after purchasing an additional 188,586 shares during the period. Tributary Capital Management LLC raised its stake in Sykes Enterprises, by 36.2% during the second quarter. Tributary Capital Management LLC now owns 425,370 shares of the information technology services provider’s stock worth $14,263,000 after purchasing an additional 113,051 shares during the period. Finally, Sensato Investors LLC raised its stake in Sykes Enterprises, by 269.1% during the first quarter. Sensato Investors LLC now owns 115,082 shares of the information technology services provider’s stock worth $3,383,000 after purchasing an additional 83,900 shares during the period. 86.35% of the stock is currently owned by hedge funds and other institutional investors.
Sykes Enterprises, Incorporated (NASDAQ:SYKE) opened at 29.35 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 18.46 and a beta of 0.84. The firm’s 50-day moving average is $27.27 and its 200-day moving average is $30.49. Sykes Enterprises, Incorporated has a 52 week low of $25.77 and a 52 week high of $34.49.
Sykes Enterprises, (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The business had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities research analysts predict that Sykes Enterprises, Incorporated will post $1.80 EPS for the current fiscal year.
SYKE has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Sykes Enterprises, from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Robert W. Baird reduced their target price on shares of Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th.
In other news, CEO Charles E. Sykes sold 20,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total transaction of $525,400.00. Following the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at approximately $8,879,233.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.
Sykes Enterprises, Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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