TeleTech Holdings, Inc. (NASDAQ:TTEC) Upgraded to Buy by Zacks Investment Research
TeleTech Holdings, Inc. (NASDAQ:TTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $46.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.65% from the stock’s previous close.
According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “
TTEC has been the topic of a number of other research reports. BidaskClub lowered TeleTech Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. TheStreet raised TeleTech Holdings from a “c+” rating to a “b” rating in a research report on Thursday, May 11th.
TeleTech Holdings (NASDAQ TTEC) opened at 41.20 on Friday. TeleTech Holdings has a 12-month low of $24.45 and a 12-month high of $43.45. The company has a 50-day moving average price of $41.20 and a 200-day moving average price of $35.10. The firm has a market cap of $1.89 billion, a P/E ratio of 42.83 and a beta of 0.90.
TeleTech Holdings (NASDAQ:TTEC) last announced its earnings results on Monday, August 7th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.05. TeleTech Holdings had a return on equity of 19.49% and a net margin of 3.30%. The business had revenue of $353.42 million for the quarter, compared to analyst estimates of $332.52 million. During the same quarter last year, the firm earned $0.28 EPS. TeleTech Holdings’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts predict that TeleTech Holdings will post $1.77 earnings per share for the current year.
In other TeleTech Holdings news, SVP Steven C. Pollema sold 1,317 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $42.01, for a total transaction of $55,327.17. Following the transaction, the senior vice president now owns 6,880 shares of the company’s stock, valued at approximately $289,028.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert N. Jimenez sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $42.58, for a total value of $276,770.00. Following the transaction, the executive vice president now directly owns 9,390 shares in the company, valued at approximately $399,826.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,817 shares of company stock worth $926,247 in the last ninety days. Insiders own 70.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in TeleTech Holdings during the fourth quarter valued at $11,308,000. Legato Capital Management LLC raised its position in TeleTech Holdings by 2,860.0% in the first quarter. Legato Capital Management LLC now owns 49,758 shares of the business services provider’s stock valued at $1,681,000 after buying an additional 48,077 shares during the period. State Street Corp raised its position in TeleTech Holdings by 3.8% in the fourth quarter. State Street Corp now owns 375,056 shares of the business services provider’s stock valued at $11,440,000 after buying an additional 13,666 shares during the period. JPMorgan Chase & Co. raised its position in TeleTech Holdings by 30.0% in the first quarter. JPMorgan Chase & Co. now owns 59,122 shares of the business services provider’s stock valued at $1,750,000 after buying an additional 13,627 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in TeleTech Holdings by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,387,448 shares of the business services provider’s stock valued at $41,068,000 after buying an additional 7,245 shares during the period. 27.24% of the stock is currently owned by hedge funds and other institutional investors.
About TeleTech Holdings
TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
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