ValuEngine Lowers Sykes Enterprises (NASDAQ:SYKE) to Sell

ValuEngine cut shares of Sykes Enterprises (NASDAQ:SYKE) from a hold rating to a sell rating in a report issued on Tuesday, ValuEngine reports.

SYKE has been the topic of a number of other reports. Zacks Investment Research raised shares of Sykes Enterprises from a hold rating to a buy rating and set a $34.00 price target on the stock in a report on Saturday, November 2nd. Sidoti lowered their price target on shares of Sykes Enterprises from $39.00 to $36.00 and set a buy rating on the stock in a report on Wednesday, July 31st. BidaskClub downgraded shares of Sykes Enterprises from a buy rating to a hold rating in a report on Friday, October 11th. Finally, TheStreet raised shares of Sykes Enterprises from a c+ rating to a b- rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Sykes Enterprises presently has an average rating of Hold and an average target price of $36.33.

NASDAQ SYKE traded up $0.42 during mid-day trading on Tuesday, reaching $38.18. 468,000 shares of the stock were exchanged, compared to its average volume of 157,388. The business’s 50 day moving average is $30.98 and its 200-day moving average is $28.44. Sykes Enterprises has a 1 year low of $22.67 and a 1 year high of $38.24. The company has a market capitalization of $1.56 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.17.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, November 4th. The information technology services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. Sykes Enterprises had a net margin of 3.62% and a return on equity of 10.08%. The firm had revenue of $397.50 million for the quarter, compared to the consensus estimate of $401.73 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts predict that Sykes Enterprises will post 2.11 earnings per share for the current fiscal year.

In other Sykes Enterprises news, insider David Pearson sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $29.05, for a total transaction of $145,250.00. Following the transaction, the insider now directly owns 57,457 shares of the company’s stock, valued at $1,669,125.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SYKE. Nuveen Asset Management LLC purchased a new position in Sykes Enterprises during the second quarter valued at $8,507,000. Victory Capital Management Inc. lifted its holdings in Sykes Enterprises by 16.2% during the second quarter. Victory Capital Management Inc. now owns 2,214,403 shares of the information technology services provider’s stock valued at $60,808,000 after purchasing an additional 307,980 shares in the last quarter. Marshall Wace LLP purchased a new position in Sykes Enterprises during the second quarter valued at $5,064,000. Morgan Stanley lifted its holdings in Sykes Enterprises by 85.6% during the second quarter. Morgan Stanley now owns 267,672 shares of the information technology services provider’s stock valued at $7,350,000 after purchasing an additional 123,439 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Sykes Enterprises in the second quarter valued at about $2,636,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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