TTEC (NASDAQ:TTEC) Now Covered by Bank of America

Equities research analysts at Bank of America initiated coverage on shares of TTEC (NASDAQ:TTEC) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $48.00 price target on the business services provider’s stock. Bank of America‘s price target would indicate a potential upside of 13.72% from the company’s current price.

A number of other brokerages have also recently weighed in on TTEC. William Blair began coverage on TTEC in a research note on Monday, December 30th. They issued an “outperform” rating for the company. Northland Securities began coverage on TTEC in a research note on Wednesday, January 8th. They issued an “outperform” rating and a $60.00 price objective for the company. ValuEngine cut TTEC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BidaskClub raised TTEC from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Sidoti assumed coverage on TTEC in a research note on Thursday, September 19th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. TTEC has a consensus rating of “Buy” and a consensus price target of $55.25.

Shares of NASDAQ TTEC traded down $0.05 during trading on Tuesday, reaching $42.21. The stock had a trading volume of 5,034 shares, compared to its average volume of 217,425. TTEC has a fifty-two week low of $30.53 and a fifty-two week high of $50.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 1.44. The business’s 50-day moving average price is $39.65 and its 200-day moving average price is $44.95. The company has a market cap of $1.89 billion, a P/E ratio of 28.33, a PEG ratio of 2.73 and a beta of 0.64.

TTEC (NASDAQ:TTEC) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.08. TTEC had a return on equity of 23.39% and a net margin of 4.32%. The business had revenue of $395.51 million during the quarter. Analysts forecast that TTEC will post 1.91 EPS for the current fiscal year.

In other news, CFO Regina Paolillo sold 8,588 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $50.01, for a total transaction of $429,485.88. Following the completion of the transaction, the chief financial officer now directly owns 184,909 shares of the company’s stock, valued at approximately $9,247,299.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth D. Tuchman sold 450,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $36.50, for a total value of $16,425,000.00. Following the transaction, the chief executive officer now directly owns 6,686,901 shares of the company’s stock, valued at $244,071,886.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,458,588 shares of company stock valued at $126,354,486 over the last three months. 69.45% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of TTEC during the 3rd quarter worth about $139,000. State of Tennessee Treasury Department lifted its holdings in shares of TTEC by 8.8% in the 3rd quarter. State of Tennessee Treasury Department now owns 15,244 shares of the business services provider’s stock valued at $730,000 after purchasing an additional 1,234 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of TTEC by 4.3% in the 2nd quarter. Bank of America Corp DE now owns 58,321 shares of the business services provider’s stock valued at $2,717,000 after purchasing an additional 2,386 shares during the last quarter. Zebra Capital Management LLC lifted its holdings in shares of TTEC by 10.1% in the 3rd quarter. Zebra Capital Management LLC now owns 13,939 shares of the business services provider’s stock valued at $667,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of TTEC by 5.3% in the 3rd quarter. Comerica Bank now owns 13,507 shares of the business services provider’s stock valued at $649,000 after purchasing an additional 677 shares during the last quarter. 26.46% of the stock is owned by institutional investors and hedge funds.

About TTEC

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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Analyst Recommendations for TTEC (NASDAQ:TTEC)

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