Sykes Enterprises (SYKE) Upgraded at ValuEngine

ValuEngine upgraded shares of Sykes Enterprises (NASDAQ:SYKE) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other brokerages have also recently commented on SYKE. Zacks Investment Research cut Sykes Enterprises from a buy rating to a hold rating in a research report on Wednesday, January 10th. SunTrust Banks reaffirmed a buy rating and set a $34.00 price target on shares of Sykes Enterprises in a research report on Monday, October 9th. BidaskClub cut Sykes Enterprises from a buy rating to a hold rating in a research report on Saturday, December 2nd. Finally, Robert W. Baird reaffirmed a hold rating and set a $29.00 price target on shares of Sykes Enterprises in a research report on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Sykes Enterprises presently has a consensus rating of Hold and a consensus price target of $32.00.

Sykes Enterprises (SYKE) opened at $28.99 on Friday. Sykes Enterprises has a one year low of $25.77 and a one year high of $34.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.29 and a current ratio of 3.29. The firm has a market capitalization of $1,304.08, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.51 and a beta of 0.82.

In other Sykes Enterprises news, CEO Charles E. Sykes sold 10,000 shares of Sykes Enterprises stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $31.16, for a total transaction of $311,600.00. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, CEO Charles E. Sykes sold 40,000 shares of Sykes Enterprises stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.17, for a total value of $1,246,800.00. Following the sale, the chief executive officer now directly owns 285,189 shares of the company’s stock, valued at approximately $8,889,341.13. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SYKE. Riverhead Capital Management LLC lifted its holdings in shares of Sykes Enterprises by 57.9% in 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 buying an additional 1,331 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Sykes Enterprises by 7.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock valued at $135,000 after buying an additional 280 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Sykes Enterprises in the 3rd quarter valued at about $124,000. C M Bidwell & Associates Ltd. lifted its holdings in shares of Sykes Enterprises by 72.6% in the 2nd 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 during the period. Finally, Suntrust Banks Inc. acquired a new position in shares of Sykes Enterprises in the 2nd quarter valued at about $218,000. 85.86% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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