Royal Bank of Canada Sells 1,512 Shares of Sykes Enterprises, Incorporated (SYKE)

Royal Bank of Canada reduced its holdings in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,271 shares of the information technology services provider’s stock after selling 1,512 shares during the period. Royal Bank of Canada owned about 0.15% of Sykes Enterprises, worth $2,054,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Sykes Enterprises, by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock valued at $111,000 after acquiring an additional 177 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Sykes Enterprises, by 57.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock valued at $122,000 after acquiring an additional 1,331 shares in the last quarter. Sei Investments Co. boosted its position in shares of Sykes Enterprises, by 0.3% during the 2nd quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock valued at $181,000 after acquiring an additional 15 shares in the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of Sykes Enterprises, by 26.0% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 6,006 shares of the information technology services provider’s stock valued at $201,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new stake in shares of Sykes Enterprises, during the 2nd quarter valued at about $218,000. Institutional investors and hedge funds own 85.40% of the company’s stock.

Sykes Enterprises, Incorporated (NASDAQ:SYKE) opened at 28.92 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 18.19 and a beta of 0.84. The firm has a 50-day moving average of $28.62 and a 200-day moving average of $30.57. Sykes Enterprises, Incorporated has a 52-week low of $25.77 and a 52-week high of $34.49.

Sykes Enterprises, (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $375.40 million for the quarter, compared to the consensus estimate of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, equities research analysts forecast that Sykes Enterprises, Incorporated will post $1.80 EPS for the current fiscal year.

Several analysts have recently weighed in on SYKE shares. SunTrust Banks, Inc. reiterated a “buy” rating and set a $34.00 target price on shares of Sykes Enterprises, in a research report on Monday, October 9th. Zacks Investment Research upgraded shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Thursday, July 13th. Finally, Robert W. Baird reiterated a “hold” rating and set a $29.00 target price on shares of Sykes Enterprises, in a research report on Sunday, September 17th.

In other news, CEO Charles E. Sykes sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total value of $525,400.00. Following the sale, the chief executive officer now directly owns 337,999 shares in the company, valued at approximately $8,879,233.73. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

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Sykes Enterprises, Company Profile

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.

Institutional Ownership by Quarter for Sykes Enterprises, (NASDAQ:SYKE)

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