TTEC (NASDAQ:TTEC) Rating Increased to Hold at StockNews.com

TTEC (NASDAQ:TTEC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Canaccord Genuity Group cut their target price on TTEC from $4.50 to $3.50 and set a “hold” rating for the company in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.13.

TTEC Stock Performance

NASDAQ:TTEC opened at $3.54 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.47. The stock has a 50 day simple moving average of $3.86 and a 200 day simple moving average of $4.60. TTEC has a 1-year low of $3.31 and a 1-year high of $11.97. The stock has a market cap of $168.96 million, a P/E ratio of -0.51, a PEG ratio of 1.53 and a beta of 1.04.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Thursday, February 27th. The business services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The business had revenue of $567.44 million for the quarter, compared to the consensus estimate of $575.73 million. TTEC had a positive return on equity of 5.00% and a negative net margin of 14.69%. Research analysts anticipate that TTEC will post 0.33 earnings per share for the current year.

Hedge Funds Weigh In On TTEC

Institutional investors have recently modified their holdings of the business. Royce & Associates LP grew its position in TTEC by 77.6% in the third quarter. Royce & Associates LP now owns 788,622 shares of the business services provider’s stock valued at $4,629,000 after acquiring an additional 344,496 shares during the last quarter. BNP Paribas Financial Markets increased its position in TTEC by 40.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 191,317 shares of the business services provider’s stock worth $1,123,000 after purchasing an additional 55,407 shares in the last quarter. Walleye Capital LLC lifted its stake in TTEC by 44.3% in the 3rd quarter. Walleye Capital LLC now owns 441,151 shares of the business services provider’s stock valued at $2,590,000 after purchasing an additional 135,355 shares during the last quarter. ClearAlpha Technologies LP acquired a new stake in TTEC in the third quarter valued at approximately $411,000. Finally, Quantinno Capital Management LP bought a new stake in shares of TTEC during the third quarter worth $121,000. Institutional investors and hedge funds own 38.03% of the company’s stock.

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.