TeleTech (NASDAQ:TTEC) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of TeleTech Holdings, Inc. (NASDAQ:TTEC) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $2.19 and traded as high as $2.52. TeleTech shares last traded at $2.40, with a volume of 22,159,520 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on TTEC shares. Zacks Research raised TeleTech from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TeleTech in a report on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, TeleTech presently has an average rating of “Reduce”.

TeleTech Trading Up 72.0%

The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 9.41. The business’s 50-day moving average is $1.43 and its two-hundred day moving average is $2.19. The firm has a market cap of $118.32 million, a P/E ratio of -0.58, a P/E/G ratio of 0.47 and a beta of 0.90.

TeleTech (NASDAQ:TTEC) last released its quarterly earnings data on Monday, November 9th. The business services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. TeleTech had a negative net margin of 9.96% and a positive return on equity of 29.41%. The firm had revenue of $492.25 million for the quarter, compared to analyst estimates of $480.20 million. As a group, analysts expect that TeleTech Holdings, Inc. will post 0.60 earnings per share for the current fiscal year.

Institutional Trading of TeleTech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in shares of TeleTech by 29.7% in the 1st quarter. Renaissance Technologies LLC now owns 56,700 shares of the business services provider’s stock worth $142,000 after purchasing an additional 13,000 shares during the last quarter. Lazard Asset Management LLC acquired a new position in TeleTech during the 1st quarter valued at approximately $87,000. Empowered Funds LLC boosted its position in TeleTech by 125.3% during the 1st quarter. Empowered Funds LLC now owns 127,304 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 70,805 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in TeleTech by 15.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 682,344 shares of the business services provider’s stock valued at $1,705,000 after purchasing an additional 91,167 shares during the period. 38.03% of the stock is currently owned by institutional investors and hedge funds.

TeleTech Company Profile

TeleTech, now known as TTEC Holdings, Inc. (NASDAQ:TTEC), is a global customer experience technology and services company. Founded in 1982 by Kenneth Tuchman, the company helps organizations design, build and manage customer interactions across digital and traditional channels. TTEC’s services include customer care, technical support, sales and marketing, trust and safety, consulting, artificial intelligence, automation, analytics, cloud technologies and customer experience strategy. Its offerings are delivered through a combination of customer experience software, technology platforms and outsourced business-process services.