TTEC Holdings Inc (NASDAQ:TTEC) Short Interest Update
TTEC Holdings Inc (NASDAQ:TTEC) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 415,300 shares, an increase of 17.7% from the December 15th total of 352,800 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 212,800 shares, the short-interest ratio is currently 2.0 days.
In other TTEC news, CEO Kenneth D. Tuchman sold 3,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $36.50, for a total value of $109,500,000.00. Following the sale, the chief executive officer now owns 3,686,901 shares of the company’s stock, valued at $134,571,886.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Regina Paolillo sold 8,588 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $50.01, for a total value of $429,485.88. Following the completion of the sale, the chief financial officer now directly owns 184,909 shares in the company, valued at approximately $9,247,299.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,458,588 shares of company stock worth $126,354,486. 69.45% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in TTEC in the third quarter valued at approximately $139,000. State of Tennessee Treasury Department grew its stake in shares of TTEC by 8.8% during the third quarter. State of Tennessee Treasury Department now owns 15,244 shares of the business services provider’s stock worth $730,000 after purchasing an additional 1,234 shares in the last quarter. Zebra Capital Management LLC increased its holdings in TTEC by 10.1% in the third quarter. Zebra Capital Management LLC now owns 13,939 shares of the business services provider’s stock valued at $667,000 after buying an additional 1,278 shares during the last quarter. Bank of America Corp DE increased its holdings in TTEC by 4.3% in the second quarter. Bank of America Corp DE now owns 58,321 shares of the business services provider’s stock valued at $2,717,000 after buying an additional 2,386 shares during the last quarter. Finally, Comerica Bank raised its stake in TTEC by 5.3% in the third quarter. Comerica Bank now owns 13,507 shares of the business services provider’s stock valued at $649,000 after buying an additional 677 shares in the last quarter. 26.46% of the stock is currently owned by institutional investors.
TTEC (NASDAQ:TTEC) last released its earnings results on Tuesday, November 5th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.08. TTEC had a return on equity of 23.39% and a net margin of 4.32%. The firm had revenue of $395.51 million during the quarter. On average, analysts expect that TTEC will post 1.91 EPS for the current year.
A number of brokerages have recently weighed in on TTEC. Sidoti initiated coverage on TTEC in a research note on Thursday, September 19th. They issued a “buy” rating for the company. BidaskClub raised TTEC from a “sell” rating to a “hold” rating in a research note on Tuesday. William Blair started coverage on TTEC in a report on Monday, December 30th. They set an “outperform” rating for the company. Bank of America assumed coverage on TTEC in a research report on Tuesday. They issued a “buy” rating and a $48.00 target price for the company. Finally, Northland Securities started coverage on shares of TTEC in a research note on Wednesday, January 8th. They set an “outperform” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.25.
TTEC Company Profile
TTEC Holdings, Inc designs and provides customer experience solutions in the United States, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Canada, the United Kingdom, and internationally. It operates in four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS).
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