Bank of New York Mellon Corp Trims Stock Position in TTEC Holdings, Inc. (NASDAQ:TTEC)

Bank of New York Mellon Corp trimmed its stake in TTEC Holdings, Inc. (NASDAQ:TTEC) by 26.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,409 shares of the business services provider’s stock after selling 59,365 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of TTEC worth $978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TTEC. PNC Financial Services Group Inc. raised its holdings in shares of TTEC by 42.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,407 shares of the business services provider’s stock valued at $95,000 after buying an additional 1,323 shares during the last quarter. Quadrant Capital Group LLC increased its position in TTEC by 128.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,854 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 1,607 shares during the period. SummerHaven Investment Management LLC raised its stake in TTEC by 11.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 24,091 shares of the business services provider’s stock valued at $142,000 after acquiring an additional 2,479 shares during the last quarter. Quest Partners LLC acquired a new stake in TTEC during the 4th quarter worth approximately $96,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of TTEC by 33.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,124 shares of the business services provider’s stock valued at $458,000 after purchasing an additional 5,243 shares during the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

TTEC Trading Down 3.3 %

Shares of TTEC stock opened at $4.08 on Friday. The business’s fifty day moving average price is $5.51 and its 200 day moving average price is $7.00. The firm has a market capitalization of $194.70 million, a PE ratio of -15.69, a P/E/G ratio of 2.45 and a beta of 1.04. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.56 and a quick ratio of 1.56. TTEC Holdings, Inc. has a 1-year low of $3.71 and a 1-year high of $28.38.

TTEC (NASDAQ:TTEC) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). The company had revenue of $534.09 million for the quarter, compared to analyst estimates of $554.67 million. TTEC had a positive return on equity of 7.38% and a negative net margin of 13.39%. As a group, sell-side analysts forecast that TTEC Holdings, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TTEC has been the subject of several analyst reports. Northland Securities cut their price target on TTEC from $19.00 to $16.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. StockNews.com downgraded shares of TTEC from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Canaccord Genuity Group lowered their target price on shares of TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, TTEC has a consensus rating of “Hold” and an average price target of $11.90.

About TTEC

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.