Sykes Enterprises (NASDAQ:SYKE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

SYKE has been the subject of several other reports. Robert W. Baird restated a “hold” rating and issued a $29.00 target price on shares of Sykes Enterprises in a research note on Sunday, September 17th. SunTrust Banks restated a “buy” rating and issued a $34.00 target price on shares of Sykes Enterprises in a research note on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.50.

Shares of Sykes Enterprises (NASDAQ SYKE) opened at $30.86 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.29 and a current ratio of 3.29. Sykes Enterprises has a 52 week low of $25.77 and a 52 week high of $34.49. The stock has a market cap of $1,320.00, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.55 and a beta of 0.89.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings data on Monday, November 6th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. Sykes Enterprises had a net margin of 4.32% and a return on equity of 11.33%. The company had revenue of $407.31 million during the quarter, compared to the consensus estimate of $399.22 million. During the same period in the previous year, the firm earned $0.55 earnings per share. Sykes Enterprises’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts predict that Sykes Enterprises will post 1.93 EPS for the current year.

In other Sykes Enterprises news, CEO Charles E. Sykes sold 40,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.17, for a total transaction of $1,246,800.00. Following the sale, the chief executive officer now directly owns 285,189 shares of the company’s stock, valued at $8,889,341.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles E. Sykes sold 10,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $31.16, for a total transaction of $311,600.00. Following the sale, the chief executive officer now directly owns 275,589 shares in the company, valued at $8,587,353.24. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several large investors have recently modified their holdings of SYKE. Schwab Charles Investment Management Inc. raised its holdings in shares of Sykes Enterprises by 9.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 282,946 shares of the information technology services provider’s stock worth $9,488,000 after purchasing an additional 25,441 shares during the period. Legal & General Group Plc raised its holdings in shares of Sykes Enterprises by 11.8% during the second quarter. Legal & General Group Plc now owns 77,476 shares of the information technology services provider’s stock worth $2,598,000 after purchasing an additional 8,147 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Sykes Enterprises by 44.4% during the second quarter. BNP Paribas Arbitrage SA now owns 15,639 shares of the information technology services provider’s stock worth $524,000 after purchasing an additional 4,807 shares during the period. Federated Investors Inc. PA grew its position in shares of Sykes Enterprises by 44.0% during the second quarter. Federated Investors Inc. PA now owns 46,305 shares of the information technology services provider’s stock worth $1,553,000 after acquiring an additional 14,159 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Sykes Enterprises by 4.2% during the second quarter. Principal Financial Group Inc. now owns 644,541 shares of the information technology services provider’s stock worth $21,611,000 after acquiring an additional 26,239 shares during the last quarter. 85.64% of the stock is currently owned by institutional investors.

WARNING: This report was originally posted by Watch List News and is owned by of Watch List News. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.watchlistnews.com/sykes-enterprises-syke-lowered-to-sell-at-bidaskclub/1801134.html.

About Sykes Enterprises

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.

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 Analyst Ratings Network's FREE daily email newsletter.