TTEC (NASDAQ:TTEC) Trading Down 5.4% After Insider Selling

TTEC Holdings, Inc. (NASDAQ:TTEC) traded down 5.4% during trading on Wednesday following insider selling activity. The company traded as low as $102.72 and last traded at $102.88. 5,056 shares were traded during trading, a decline of 97% from the average session volume of 157,007 shares. The stock had previously closed at $108.81.

Specifically, Director Robert N. Frerichs sold 3,231 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $110.00, for a total value of $355,410.00. Following the transaction, the director now owns 26,735 shares in the company, valued at approximately $2,940,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory A. Conley sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $102.50, for a total transaction of $205,000.00. Following the completion of the transaction, the director now owns 13,346 shares in the company, valued at approximately $1,367,965. The disclosure for this sale can be found here. Insiders sold a total of 31,948 shares of company stock worth $3,499,429 in the last 90 days. Corporate insiders own 60.90% of the company’s stock.

A number of research firms recently issued reports on TTEC. Zacks Investment Research downgraded shares of TTEC from a “buy” rating to a “strong sell” rating in a research report on Tuesday, May 11th. Morgan Stanley boosted their target price on shares of TTEC from $87.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, May 6th. Canaccord Genuity boosted their target price on shares of TTEC from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, April 12th. Northland Securities reiterated a “buy” rating on shares of TTEC in a research report on Friday, March 5th. Finally, Craig Hallum boosted their target price on shares of TTEC from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $94.86.

The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 1.73 and a beta of 0.82. The stock’s 50 day simple moving average is $105.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.65 and a current ratio of 1.65.

TTEC (NASDAQ:TTEC) last announced its quarterly earnings results on Tuesday, May 4th. The business services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.26. TTEC had a net margin of 7.17% and a return on equity of 39.80%. The business had revenue of $539.20 million during the quarter, compared to analyst estimates of $530.74 million. During the same quarter in the previous year, the business posted $0.74 EPS. TTEC’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts expect that TTEC Holdings, Inc. will post 3.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of TTEC by 3.6% in the 1st quarter. BlackRock Inc. now owns 2,846,264 shares of the business services provider’s stock worth $285,908,000 after acquiring an additional 98,997 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of TTEC in the 1st quarter worth $49,316,000. Norges Bank bought a new stake in shares of TTEC in the 4th quarter worth $30,742,000. Northern Trust Corp grew its stake in shares of TTEC by 0.8% in the 1st quarter. Northern Trust Corp now owns 337,538 shares of the business services provider’s stock worth $33,905,000 after acquiring an additional 2,669 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of TTEC by 8.8% in the 1st quarter. Geode Capital Management LLC now owns 326,666 shares of the business services provider’s stock worth $32,813,000 after acquiring an additional 26,500 shares in the last quarter. Hedge funds and other institutional investors own 34.75% of the company’s stock.

TTEC Company Profile (NASDAQ:TTEC)

TTEC Holdings, Inc, a customer experience technology and services company, focuses on the design, implementation, and delivery of transformative customer experience for various brands. It operates through TTEC Digital and TTEC Engage segments. The TTEC Digital segments designs, builds, and delivers tech-enabled customer experience solutions through its professional services and suite of technology offerings to enabling and accelerating digital transformation for clients.

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