TeleTech (TTEC) Upgraded at BidaskClub

BidaskClub upgraded shares of TeleTech (NASDAQ:TTEC) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other analysts have also recently commented on TTEC. SunTrust Banks reiterated a hold rating and set a $43.00 target price on shares of TeleTech in a research report on Monday, October 9th. Zacks Investment Research upgraded TeleTech from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Tuesday, November 14th. Finally, ValuEngine cut TeleTech from a buy rating to a hold rating in a research report on Friday, December 1st. Four research analysts have rated the stock with a hold rating, TeleTech presently has an average rating of Hold and an average price target of $43.50.

Shares of TeleTech (NASDAQ TTEC) opened at $40.85 on Thursday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.64. TeleTech has a 52-week low of $28.20 and a 52-week high of $43.75. The company has a market capitalization of $1,882.11, a PE ratio of 38.91, a PEG ratio of 2.35 and a beta of 0.89.

TeleTech (NASDAQ:TTEC) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. TeleTech had a return on equity of 19.24% and a net margin of 3.45%. The business had revenue of $359.04 million for the quarter, compared to analysts’ expectations of $348.94 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. research analysts forecast that TeleTech will post 1.75 EPS for the current fiscal year.

In related news, SVP Steven C. Pollema sold 9,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 70.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan boosted its holdings in TeleTech by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,730 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 160 shares in the last quarter. Stevens Capital Management LP purchased a new stake in TeleTech in the 2nd quarter valued at approximately $201,000. LMR Partners LLP purchased a new stake in shares of TeleTech during the 2nd quarter worth approximately $206,000. BNP Paribas Arbitrage SA boosted its stake in shares of TeleTech by 88.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock worth $240,000 after acquiring an additional 2,759 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of TeleTech during the 2nd quarter worth approximately $245,000. 24.80% of the stock is currently owned by institutional investors.

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About TeleTech

TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).

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