TTEC Holdings, Inc. (NASDAQ:TTEC) Short Interest Update

TTEC Holdings, Inc. (NASDAQ:TTEC) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,210,000 shares, a growth of 66.3% from the March 31st total of 1,930,000 shares. Based on an average daily volume of 362,300 shares, the days-to-cover ratio is currently 8.9 days. Approximately 16.8% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TTEC shares. Canaccord Genuity Group cut shares of TTEC from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Canaccord Genuity Group reiterated a “hold” rating and set a $13.00 price objective (down from $30.00) on shares of TTEC in a report on Wednesday, March 6th. Guggenheim initiated coverage on shares of TTEC in a research report on Tuesday, March 19th. They set a “sell” rating and a $8.00 price target on the stock. Finally, Barrington Research lowered shares of TTEC from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.00.

Hedge Funds Weigh In On TTEC

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEC. Denali Advisors LLC grew its stake in TTEC by 131.9% in the 3rd quarter. Denali Advisors LLC now owns 65,861 shares of the business services provider’s stock worth $1,727,000 after buying an additional 37,461 shares in the last quarter. Raymond James & Associates boosted its stake in shares of TTEC by 11.1% in the 3rd quarter. Raymond James & Associates now owns 22,711 shares of the business services provider’s stock valued at $595,000 after purchasing an additional 2,266 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of TTEC by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 345,718 shares of the business services provider’s stock valued at $9,065,000 after purchasing an additional 2,989 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of TTEC by 18.7% in the 3rd quarter. Victory Capital Management Inc. now owns 299,415 shares of the business services provider’s stock valued at $7,851,000 after purchasing an additional 47,196 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of TTEC by 47.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 224,645 shares of the business services provider’s stock valued at $5,890,000 after purchasing an additional 72,720 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

TTEC Stock Down 0.5 %

Shares of TTEC traded down $0.04 during trading hours on Friday, reaching $7.72. 209,966 shares of the stock traded hands, compared to its average volume of 388,381. The company has a market cap of $366.31 million, a price-to-earnings ratio of 42.89, a PEG ratio of 0.84 and a beta of 0.99. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.62. TTEC has a 52 week low of $7.66 and a 52 week high of $36.70. The stock has a fifty day simple moving average of $11.26 and a 200 day simple moving average of $17.18.

TTEC (NASDAQ:TTEC) last posted its quarterly earnings results on Thursday, February 29th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). The business had revenue of $626.18 million during the quarter, compared to the consensus estimate of $602.98 million. TTEC had a net margin of 0.34% and a return on equity of 13.74%. On average, equities analysts forecast that TTEC will post 1.16 EPS for the current year.

TTEC Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a yield of 4.6%. TTEC’s dividend payout ratio is currently 66.67%.

TTEC Company Profile

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.