TTEC (NASDAQ:TTEC) Coverage Initiated at Sidoti

Sidoti initiated coverage on shares of TTEC (NASDAQ:TTEC) in a report published on Thursday, The Fly reports. The brokerage issued a buy rating on the business services provider’s stock.

TTEC has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of TTEC from a buy rating to a hold rating in a research note on Saturday, July 27th. BidaskClub raised shares of TTEC from a buy rating to a strong-buy rating in a research note on Thursday. Finally, Craig Hallum increased their target price on shares of TTEC from $50.00 to $60.00 and gave the company a buy rating in a research note on Monday, June 17th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $56.50.

TTEC stock opened at $49.59 on Thursday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 33.28 and a beta of 0.72. The firm’s fifty day moving average is $46.85 and its 200 day moving average is $41.36. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.89. TTEC has a 52-week low of $23.01 and a 52-week high of $50.45.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.23. The company had revenue of $392.52 million for the quarter, compared to the consensus estimate of $376.80 million. TTEC had a net margin of 3.60% and a return on equity of 21.96%.

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a dividend yield of 1.2%. This is an increase from TTEC’s previous Semi-Annual dividend of $0.25. TTEC’s dividend payout ratio is currently 40.27%.

In other news, SVP Margaret B. Mclean sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.44, for a total value of $237,200.00. Following the sale, the senior vice president now owns 34,841 shares of the company’s stock, valued at $1,652,857.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Martin F. Deghetto sold 5,926 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $47.00, for a total transaction of $278,522.00. Following the completion of the sale, the executive vice president now directly owns 96,346 shares in the company, valued at approximately $4,528,262. The disclosure for this sale can be found here. In the last three months, insiders sold 87,824 shares of company stock worth $4,157,200. Insiders own 69.45% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of TTEC by 63.2% in the second quarter. Royal Bank of Canada now owns 1,532 shares of the business services provider’s stock worth $71,000 after purchasing an additional 593 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of TTEC in the second quarter worth about $3,782,000. Cubist Systematic Strategies LLC bought a new position in shares of TTEC in the second quarter worth about $380,000. Morgan Stanley grew its holdings in shares of TTEC by 38.1% in the second quarter. Morgan Stanley now owns 66,728 shares of the business services provider’s stock worth $3,109,000 after purchasing an additional 18,398 shares during the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of TTEC by 40.0% in the second quarter. Alberta Investment Management Corp now owns 9,100 shares of the business services provider’s stock worth $424,000 after purchasing an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 26.36% of the company’s stock.

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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