StockNews.com Downgrades TTEC (NASDAQ:TTEC) to Sell

TTEC (NASDAQ:TTEC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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

TTEC Stock Down 1.8 %

Shares of TTEC stock opened at $4.79 on Friday. The company has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $5.87. The stock has a market cap of $228.62 million, a P/E ratio of -0.69, a P/E/G ratio of 3.08 and a beta of 1.05. TTEC has a 12 month low of $3.67 and a 12 month high of $22.69. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.47.

Institutional Investors Weigh In On TTEC

A number of hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of TTEC during the 2nd quarter worth approximately $72,000. Nisa Investment Advisors LLC raised its stake in TTEC by 280.3% during the second quarter. Nisa Investment Advisors LLC now owns 13,309 shares of the business services provider’s stock valued at $78,000 after purchasing an additional 9,809 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of TTEC in the 2nd quarter worth $80,000. State Board of Administration of Florida Retirement System purchased a new position in shares of TTEC in the 1st quarter worth $86,000. Finally, EntryPoint Capital LLC bought a new stake in shares of TTEC in the 1st quarter worth about $88,000. 38.03% of the stock is currently 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.