Russell Investments Group Ltd. cut its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 157,359 shares of the information technology services provider’s stock after selling 7,636 shares during the period. Russell Investments Group Ltd.’s holdings in Sykes Enterprises were worth $5,824,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in SYKE. Advisors Preferred LLC purchased a new stake in shares of Sykes Enterprises in the fourth quarter worth about $198,000. Virginia Retirement Systems ET AL purchased a new position in Sykes Enterprises during the fourth quarter worth approximately $229,000. First Citizens Bank & Trust Co. purchased a new position in Sykes Enterprises during the third quarter worth approximately $209,000. Cullen Capital Management LLC purchased a new position in Sykes Enterprises during the third quarter worth approximately $233,000. Finally, First Hawaiian Bank boosted its position in Sykes Enterprises by 4.6% during the fourth quarter. First Hawaiian Bank now owns 9,508 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 417 shares in the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.
SYKE has been the topic of a number of recent analyst reports. Sidoti downgraded Sykes Enterprises from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Monday, November 11th. They noted that the move was a valuation call. ValuEngine downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. BidaskClub downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, February 1st. Finally, Zacks Investment Research downgraded Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.33.
About Sykes Enterprises
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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