Ameriprise Financial Inc. decreased its stake in shares of TeleTech Holdings Inc. (NASDAQ:TTEC) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 322,431 shares of the company’s stock after selling 39,425 shares during the period. Ameriprise Financial Inc. owned 0.68% of TeleTech Holdings worth $8,747,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in TeleTech Holdings by 90.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,531 shares of the company’s stock valued at $150,000 after buying an additional 2,627 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in TeleTech Holdings during the second quarter valued at $204,000. Arizona State Retirement System boosted its position in TeleTech Holdings by 3.7% in the first quarter. Arizona State Retirement System now owns 8,395 shares of the company’s stock valued at $233,000 after buying an additional 300 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in TeleTech Holdings during the second quarter valued at $641,000. Finally, KBC Group NV boosted its position in TeleTech Holdings by 15.3% in the second quarter. KBC Group NV now owns 24,871 shares of the company’s stock valued at $675,000 after buying an additional 3,307 shares in the last quarter. Institutional investors and hedge funds own 27.95% of the company’s stock.
Shares of TeleTech Holdings Inc. (NASDAQ:TTEC) traded up 0.07% during trading on Tuesday, hitting $28.97. The stock had a trading volume of 14,364 shares. TeleTech Holdings Inc. has a 52-week low of $24.19 and a 52-week high of $30.75. The firm’s 50-day moving average is $28.73 and its 200 day moving average is $27.94. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 27.59 and a beta of 0.89.
TeleTech Holdings (NASDAQ:TTEC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The company earned $305.10 million during the quarter, compared to analysts’ expectations of $305.72 million. TeleTech Holdings had a return on equity of 14.42% and a net margin of 4.02%. TeleTech Holdings’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, analysts expect that TeleTech Holdings Inc. will post $1.61 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be issued a $0.20 dividend. This is a boost from TeleTech Holdings’s previous semiannual dividend of $0.19. The ex-dividend date of this dividend is Thursday, September 29th. This represents a yield of 1.37%. TeleTech Holdings’s dividend payout ratio is presently 38.10%.
Several equities analysts have weighed in on TTEC shares. Zacks Investment Research upgraded TeleTech Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Wells Fargo & Co. cut TeleTech Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Finally, Sidoti began coverage on TeleTech Holdings in a report on Monday, August 29th. They issued a “neutral” rating and a $32.00 target price for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.00.
In related news, EVP Martin F. Deghetto sold 14,245 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $28.37, for a total value of $404,130.65. Following the completion of the transaction, the executive vice president now owns 81,248 shares of the company’s stock, valued at approximately $2,305,005.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory A. Conley sold 1,500 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $27.34, for a total value of $41,010.00. Following the completion of the transaction, the director now directly owns 5,667 shares of the company’s stock, valued at approximately $154,935.78. The disclosure for this sale can be found here. 67.30% of the stock is owned by corporate insiders.
TeleTech Holdings Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer engagement management service provider that delivers integrated consulting, technology, growth and customer care solutions. 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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