TTEC (NASDAQ:TTEC) Rating Lowered to “Sell” at StockNews.com

TTEC (NASDAQ:TTEC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

TTEC has been the subject of a number of other research reports. Canaccord Genuity Group reduced their target price on shares of TTEC from $8.00 to $4.50 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Guggenheim upgraded TTEC from a “sell” rating to a “neutral” rating in a research report on Tuesday, October 1st. Finally, Northland Securities dropped their price target on TTEC from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.90.

TTEC Stock Down 1.0 %

TTEC stock opened at $4.74 on Friday. The company has a market cap of $226.24 million, a price-to-earnings ratio of -0.68, a P/E/G ratio of 3.16 and a beta of 1.05. TTEC has a twelve month low of $3.67 and a twelve month high of $22.69. The business has a 50 day moving average price of $5.06 and a two-hundred day moving average price of $5.84. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.47.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in TTEC in the third quarter worth $59,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of TTEC in the second quarter worth approximately $72,000. Nisa Investment Advisors LLC grew its position in shares of TTEC by 280.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,309 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 9,809 shares during the period. Magnetar Financial LLC purchased a new stake in TTEC in the second quarter worth about $80,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in TTEC in the 1st quarter worth approximately $86,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.