Charles E. Sykes Sells 40,000 Shares of Sykes Enterprises, Incorporated (SYKE) Stock

Sykes Enterprises, Incorporated (NASDAQ:SYKE) CEO Charles E. Sykes sold 40,000 shares of Sykes Enterprises stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.17, for a total value of $1,246,800.00. Following the completion of the transaction, the chief executive officer now owns 285,189 shares of the company’s stock, valued at approximately $8,889,341.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) opened at $30.82 on Wednesday. The company has a market capitalization of $1,335.83, a price-to-earnings ratio of 15.19, a PEG ratio of 1.61 and a beta of 0.89. Sykes Enterprises, Incorporated has a 52 week low of $25.77 and a 52 week high of $34.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.29 and a quick ratio of 3.29.

Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Monday, November 6th. The information technology services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The company had revenue of $407.31 million during the quarter, compared to analysts’ expectations of $399.22 million. Sykes Enterprises had a return on equity of 11.33% and a net margin of 4.32%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. sell-side analysts predict that Sykes Enterprises, Incorporated will post 1.93 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYKE. Public Employees Retirement System of Ohio increased its stake in shares of Sykes Enterprises by 4.9% in 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 buying an additional 177 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Sykes Enterprises by 57.9% during the second quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock worth $122,000 after purchasing an additional 1,331 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Sykes Enterprises during the third quarter worth $124,000. Sei Investments Co. grew its stake in shares of Sykes Enterprises by 0.3% during the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock worth $181,000 after purchasing an additional 15 shares during the period. Finally, C M Bidwell & Associates Ltd. grew its stake in shares of Sykes Enterprises by 72.6% during the second quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock worth $212,000 after purchasing an additional 2,665 shares during the period. 85.72% of the stock is owned by institutional investors.

SYKE has been the subject of several research reports. Robert W. Baird reissued a “hold” rating and issued a $29.00 target price on shares of Sykes Enterprises in a research note on Sunday, September 17th. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research raised Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Wednesday, October 11th. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 target price on shares of Sykes Enterprises in a research note on Monday, October 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sykes Enterprises currently has a consensus rating of “Hold” and an average price target of $33.50.

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About Sykes Enterprises

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.

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