Sykes Enterprises, Incorporated (SYKE) CEO Sells $311,600.00 in Stock

Sykes Enterprises, Incorporated (NASDAQ:SYKE) CEO Charles E. Sykes sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $31.16, for a total value of $311,600.00. Following the sale, the chief executive officer now owns 275,589 shares of the company’s stock, valued at approximately $8,587,353.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Sykes Enterprises, Incorporated (SYKE) opened at $30.75 on Thursday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33. Sykes Enterprises, Incorporated has a 1-year low of $25.77 and a 1-year high of $34.49. The stock has a market capitalization of $1,322.10, a P/E ratio of 15.03, a PEG ratio of 1.60 and a beta of 0.89.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its position in shares of Sykes Enterprises by 57.9% in the second quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock valued at $122,000 after buying an additional 1,331 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Sykes Enterprises by 4.9% in the first 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 in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Sykes Enterprises in the third quarter valued at approximately $124,000. Sei Investments Co. raised its position in shares of Sykes Enterprises by 0.3% in the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock valued at $181,000 after buying an additional 15 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in shares of Sykes Enterprises by 72.6% in the second quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock valued at $212,000 after buying an additional 2,665 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Robert W. Baird restated a “hold” rating and set a $29.00 price objective on shares of Sykes Enterprises in a report on Sunday, September 17th. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Zacks Investment Research upgraded Sykes Enterprises from a “strong sell” rating to a “hold” rating and set a $33.00 price objective for the company in a report on Wednesday, October 11th. Finally, SunTrust Banks restated a “buy” rating and set a $34.00 price objective on shares of Sykes Enterprises in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.50.

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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.

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