Zacks Investment Research downgraded shares of TeleTech Holdings Inc. (NASDAQ:TTEC) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “
Other equities research analysts have also issued research reports about the company. Wells Fargo & Co. lowered TeleTech Holdings from an outperform rating to a market perform rating in a research report on Monday, August 8th. Sidoti assumed coverage on TeleTech Holdings in a research report on Monday, August 29th. They set a neutral rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $31.00.
Shares of TeleTech Holdings (NASDAQ:TTEC) opened at 28.40 on Friday. The firm’s 50-day moving average price is $28.67 and its 200-day moving average price is $27.97. The company has a market cap of $1.34 billion, a PE ratio of 27.05 and a beta of 0.89. TeleTech Holdings has a 12 month low of $24.19 and a 12 month high of $30.75.
TeleTech Holdings (NASDAQ:TTEC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. TeleTech Holdings had a return on equity of 14.42% and a net margin of 4.02%. The firm had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $305.72 million. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that TeleTech Holdings will post $1.61 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a dividend yield of 1.37%. This is a positive change from TeleTech Holdings’s previous semiannual dividend of $0.19. TeleTech Holdings’s dividend payout ratio (DPR) is currently 38.10%.
In related news, Director Gregory A. Conley sold 1,500 shares of TeleTech Holdings stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $27.34, for a total value of $41,010.00. Following the sale, the director now owns 5,667 shares of the company’s stock, valued at approximately $154,935.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Martin F. Deghetto sold 14,245 shares of TeleTech Holdings stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $28.37, for a total value of $404,130.65. Following the completion of the sale, the executive vice president now directly owns 81,248 shares in the company, valued at approximately $2,305,005.76. The disclosure for this sale can be found here. Insiders own 67.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. raised its stake in shares of TeleTech Holdings by 1.4% in the third quarter. Eqis Capital Management Inc. now owns 7,636 shares of the company’s stock worth $221,000 after buying an additional 107 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of TeleTech Holdings by 27.7% in the second quarter. Macquarie Group Ltd. now owns 551,580 shares of the company’s stock worth $14,964,000 after buying an additional 119,756 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of TeleTech Holdings by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,927 shares of the company’s stock worth $1,952,000 after buying an additional 1,368 shares in the last quarter. Numeric Investors LLC purchased a new stake in shares of TeleTech Holdings during the second quarter worth about $399,000. Finally, Arizona State Retirement System raised its stake in shares of TeleTech Holdings by 1.2% in the second quarter. Arizona State Retirement System now owns 8,495 shares of the company’s stock worth $230,000 after buying an additional 100 shares in the last quarter. 27.95% of the stock is currently owned by institutional investors and hedge funds.
TeleTech Holdings Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer engagement management service provider that delivers integrated consulting, technology, growth and customer care solutions. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).