Cornerstone Capital Management Holdings LLC. Purchases Shares of 21,400 Sykes Enterprises, Incorporated (SYKE)

Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,400 shares of the information technology services provider’s stock, valued at approximately $623,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. grew its position in Sykes Enterprises by 1.1% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,314,362 shares of the information technology services provider’s stock worth $67,487,000 after buying an additional 24,071 shares in the last quarter. Boston Partners grew its position in Sykes Enterprises by 2.8% during the third quarter. Boston Partners now owns 1,348,116 shares of the information technology services provider’s stock worth $39,311,000 after buying an additional 36,192 shares in the last quarter. LSV Asset Management lifted its stake in Sykes Enterprises by 62.1% during the second quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock worth $43,246,000 after purchasing an additional 494,155 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Sykes Enterprises by 7.7% during the third quarter. Wells Fargo & Company MN now owns 1,164,032 shares of the information technology services provider’s stock worth $33,942,000 after purchasing an additional 83,219 shares during the last quarter. Finally, State Street Corp lifted its stake in Sykes Enterprises by 3.9% during the second quarter. State Street Corp now owns 1,085,236 shares of the information technology services provider’s stock worth $36,391,000 after purchasing an additional 41,008 shares during the last quarter. 85.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) opened at $31.69 on Tuesday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1,368.43, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Sykes Enterprises, Incorporated has a 1-year low of $25.77 and a 1-year high of $34.49.

Sykes Enterprises (NASDAQ:SYKE) last issued 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. Sykes Enterprises had a return on equity of 11.07% and a net margin of 5.33%. The company had revenue of $407.31 million during the quarter, compared to the consensus estimate of $399.22 million. During the same period last year, the business posted $0.55 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. sell-side analysts predict that Sykes Enterprises, Incorporated will post 1.93 earnings per share for the current year.

Several equities research analysts have weighed in on SYKE shares. SunTrust Banks restated a “buy” rating and set a $34.00 target price on shares of Sykes Enterprises in a research note on Monday, October 9th. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Robert W. Baird restated a “hold” rating and issued a $29.00 price objective on shares of Sykes Enterprises in a report on Sunday, October 22nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.50.

In other Sykes Enterprises news, CEO Charles E. Sykes sold 10,000 shares of Sykes Enterprises stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $31.16, for a total transaction of $311,600.00. Following the transaction, the chief executive officer now owns 275,589 shares of the company’s stock, valued at approximately $8,587,353.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles E. Sykes sold 40,000 shares of Sykes Enterprises stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $31.17, for a total transaction of $1,246,800.00. Following the completion of the sale, the chief executive officer now directly owns 285,189 shares in the company, valued at approximately $8,889,341.13. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

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

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