JPMorgan Chase & Co. reduced its stake in shares of Sykes Enterprises Inc. (NASDAQ:SYKE) by 29.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,573 shares of the company’s stock after selling 247,833 shares during the period. JPMorgan Chase & Co. owned about 1.40% of Sykes Enterprises worth $17,074,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SYKE. BlackRock Inc. raised its position in shares of Sykes Enterprises by 193.2% in the first quarter. BlackRock Inc. now owns 3,747 shares of the company’s stock valued at $113,000 after buying an additional 2,469 shares during the period. KBC Group NV purchased a new position in shares of Sykes Enterprises during the second quarter valued at about $233,000. Legal & General Group Plc raised its position in shares of Sykes Enterprises by 15.5% in the first quarter. Legal & General Group Plc now owns 9,473 shares of the company’s stock valued at $288,000 after buying an additional 1,272 shares during the period. Highland Capital Management LLC purchased a new position in shares of Sykes Enterprises during the second quarter valued at about $285,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Sykes Enterprises by 94.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,239 shares of the company’s stock valued at $383,000 after buying an additional 6,422 shares during the period. 86.58% of the stock is owned by institutional investors.
Shares of Sykes Enterprises Inc. (NASDAQ:SYKE) traded down 1.581% during trading on Thursday, reaching $27.705. 37,579 shares of the company were exchanged. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 18.458 and a beta of 0.69. Sykes Enterprises Inc. has a 52-week low of $24.91 and a 52-week high of $33.00. The stock’s 50-day moving average is $29.18 and its 200-day moving average is $29.57.
Sykes Enterprises (NASDAQ:SYKE) last issued its earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Sykes Enterprises had a net margin of 4.71% and a return on equity of 11.36%. The firm had revenue of $364.40 million for the quarter, compared to analyst estimates of $336.85 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that Sykes Enterprises Inc. will post $1.84 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on SYKE. Wells Fargo & Co. reissued a “hold” rating on shares of Sykes Enterprises in a report on Sunday, September 4th. Zacks Investment Research lowered shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sykes Enterprises currently has a consensus rating of “Hold” and a consensus price target of $32.50.
In other news, Director William J. Meurer sold 10,116 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $30.35, for a total transaction of $307,020.60. Following the completion of the transaction, the director now owns 60,398 shares of the company’s stock, valued at $1,833,079.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James T. Holder sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $30.54, for a total transaction of $100,782.00. Following the transaction, the vice president now directly owns 19,945 shares of the company’s stock, valued at approximately $609,120.30. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.
About Sykes Enterprises
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing arena. The Company provides an array of customer contact management solutions to a range of clients in communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals.
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