TeleTech (TTEC) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of TeleTech (NASDAQ:TTEC) from a hold rating to a buy rating in a research note released on Saturday. They currently have $45.00 price target on the business services provider’s stock.
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 subject of a number of other research reports. BidaskClub lowered TeleTech from a hold rating to a sell rating in a research report on Saturday, December 30th. SunTrust Banks reissued a hold rating and issued a $43.00 target price on shares of TeleTech in a research report on Monday, October 9th. Finally, ValuEngine lowered TeleTech from a buy rating to a hold rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. TeleTech currently has a consensus rating of Hold and a consensus price target of $44.00.
TeleTech (NASDAQ:TTEC) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. TeleTech had a return on equity of 19.24% and a net margin of 3.45%. The business had revenue of $359.04 million during the quarter, compared to analyst estimates of $348.94 million. During the same quarter in the previous year, the firm earned $0.39 EPS. TeleTech’s revenue was up 14.8% on a year-over-year basis. research analysts anticipate that TeleTech will post 1.75 earnings per share for the current fiscal year.
In other TeleTech news, SVP Steven C. Pollema sold 9,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 70.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Stevens Capital Management LP purchased a new stake in shares of TeleTech during the 2nd quarter valued at about $201,000. Municipal Employees Retirement System of Michigan increased its position in shares of TeleTech by 43.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,350 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 1,620 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of TeleTech by 88.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 2,759 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of TeleTech during the 2nd quarter valued at about $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of TeleTech during the 2nd quarter valued at about $263,000. 24.80% of the stock is owned by institutional investors and hedge funds.
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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