Pinebridge Investments L.P. boosted its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 21.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,374 shares of the information technology services provider’s stock after purchasing an additional 7,498 shares during the quarter. Pinebridge Investments L.P. owned about 0.10% of Sykes Enterprises worth $1,236,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SYKE. LSV Asset Management raised its position in shares of Sykes Enterprises by 62.1% during the 2nd quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock worth $43,246,000 after buying an additional 494,155 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Sykes Enterprises by 89.2% during the 3rd quarter. Citadel Advisors LLC now owns 181,783 shares of the information technology services provider’s stock worth $5,301,000 after buying an additional 85,705 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Sykes Enterprises by 18.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 543,065 shares of the information technology services provider’s stock worth $15,836,000 after purchasing an additional 83,897 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Sykes Enterprises by 7.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,164,032 shares of the information technology services provider’s stock worth $33,942,000 after purchasing an additional 83,219 shares in the last quarter. Finally, Shell Asset Management Co. raised its holdings in shares of Sykes Enterprises by 143.9% in the 3rd quarter. Shell Asset Management Co. now owns 111,541 shares of the information technology services provider’s stock worth $2,229,000 after purchasing an additional 65,816 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Robert W. Baird reiterated a “hold” rating and issued a $29.00 target price on shares of Sykes Enterprises in a report on Sunday, October 22nd. Zacks Investment Research upgraded shares of Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 target price on the stock in a report on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 target price on shares of Sykes Enterprises in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.50.
Sykes Enterprises, Incorporated (SYKE) opened at $30.69 on Friday. Sykes Enterprises, Incorporated has a 1 year low of $25.77 and a 1 year high of $34.49. The company has a market cap of $1,325.10, a P/E ratio of 15.07, a P/E/G ratio of 1.60 and a beta of 0.89. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33.
Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, November 6th. The information technology services provider reported $0.62 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $407.31 million for the quarter, compared to the consensus estimate of $399.22 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. equities analysts anticipate that Sykes Enterprises, Incorporated will post 1.93 EPS for the current fiscal year.
In other news, CEO Charles E. Sykes sold 40,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.17, for a total value of $1,246,800.00. Following the completion of the sale, the chief executive officer now directly owns 285,189 shares in the company, valued at $8,889,341.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles E. Sykes sold 10,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 275,589 shares of the company’s stock, valued at $8,587,353.24. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
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Sykes Enterprises 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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