TTEC (NASDAQ:TTEC) Upgraded to Buy by Zacks Investment Research

TTEC (NASDAQ:TTEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $46.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.19% from the company’s previous close.

According to Zacks, “TTEC Holdings Inc. is a customer experience technology and services company. It focuses on the design, implementation and delivery of customer experience. The Company delivers outcome-based customer engagement solutions through TTEC Digital, digital consultancy which designs and builds human centric, tech-enabled, insight-driven customer experience solutions for clients and TTEC Engage, delivery center which operates customer acquisition, care, growth and digital trust and safety services. TTEC Holdings Inc., formerly known as TeleTech Holdings Inc., is based in Englewood, Colorado. “

TTEC has been the subject of a number of other research reports. 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. BidaskClub cut TTEC from a “hold” rating to a “sell” rating in a research note on Friday. Cowen began coverage on TTEC in a research note on Friday, January 17th. They set an “outperform” rating and a $50.00 price target for the company. William Blair began coverage on TTEC in a research note on Monday, December 30th. They set an “outperform” rating for the company. Finally, ValuEngine cut TTEC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. TTEC presently has a consensus rating of “Buy” and a consensus price target of $52.80.

NASDAQ TTEC traded up $0.15 on Friday, reaching $40.64. The stock had a trading volume of 2,084 shares, compared to its average volume of 159,705. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.44 and a current ratio of 1.44. TTEC has a 12-month low of $30.53 and a 12-month high of $50.45. The business’s 50-day moving average price is $39.17 and its 200 day moving average price is $44.78. The stock has a market cap of $1.89 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 1.92 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 company had revenue of $395.51 million during the quarter. On average, sell-side analysts predict that TTEC will post 1.88 earnings per share for the current year.

In related news, CEO Kenneth D. Tuchman sold 3,000,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $36.50, for a total transaction of $109,500,000.00. Following the transaction, the chief executive officer now owns 3,686,901 shares of the company’s stock, valued at $134,571,886.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Regina Paolillo sold 8,588 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $50.01, for a total value of $429,485.88. Following the transaction, the chief financial officer now directly owns 184,909 shares in the company, valued at approximately $9,247,299.09. The disclosure for this sale can be found here. Insiders have sold 3,458,588 shares of company stock valued at $126,354,486 in the last 90 days. Company insiders own 69.45% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in TTEC by 2.4% during the second quarter. BlackRock Inc. now owns 2,094,970 shares of the business services provider’s stock valued at $97,604,000 after purchasing an additional 49,520 shares during the last quarter. State Street Corp grew its stake in shares of TTEC by 2.1% in the third quarter. State Street Corp now owns 439,809 shares of the business services provider’s stock worth $21,199,000 after acquiring an additional 8,869 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of TTEC by 0.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 143,099 shares of the business services provider’s stock worth $5,185,000 after acquiring an additional 561 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of TTEC by 61.0% in the second quarter. Parametric Portfolio Associates LLC now owns 110,426 shares of the business services provider’s stock worth $5,145,000 after acquiring an additional 41,853 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of TTEC by 3.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 82,487 shares of the business services provider’s stock worth $3,844,000 after acquiring an additional 2,707 shares during the period. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

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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