California Public Employees Retirement System decreased its stake in shares of TeleTech Holdings Inc. (NASDAQ:TTEC) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,800 shares of the company’s stock after selling 1,700 shares during the period. California Public Employees Retirement System owned approximately 0.12% of TeleTech Holdings worth $1,595,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of 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 during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of TeleTech Holdings during the second quarter valued at about $204,000. Emerald Acquisition Ltd. purchased a new position in shares of TeleTech Holdings during the second quarter valued at about $641,000. KBC Group NV increased its position in shares of 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 during the last quarter. Finally, Strs Ohio increased its position in shares of TeleTech Holdings by 4.5% in the second quarter. Strs Ohio now owns 25,300 shares of the company’s stock valued at $686,000 after buying an additional 1,100 shares during the last quarter. 27.95% of the stock is currently owned by institutional investors and hedge funds.
TeleTech Holdings Inc. (NASDAQ:TTEC) traded up 0.35% during trading on Monday, reaching $28.50. 40,603 shares of the company’s stock were exchanged. TeleTech Holdings Inc. has a 52 week low of $24.19 and a 52 week high of $30.75. The company’s 50 day moving average price is $28.67 and its 200-day moving average price is $27.97. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 27.14 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. TeleTech Holdings had a net margin of 4.02% and a return on equity of 14.42%. The company had revenue of $305.10 million for the quarter, compared to the consensus estimate of $305.72 million. During the same period in the previous year, the firm earned $0.34 EPS. TeleTech Holdings’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that TeleTech Holdings Inc. will post $1.61 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 29th. This represents a dividend yield of 1.37%. This is a boost from TeleTech Holdings’s previous semiannual dividend of $0.19. TeleTech Holdings’s payout ratio is currently 38.10%.
Several brokerages recently issued reports on TTEC. Wells Fargo & Co. downgraded shares of TeleTech Holdings from an “outperform” rating to a “market perform” rating in a research note on Monday, August 8th. Zacks Investment Research downgraded shares of TeleTech Holdings from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Sidoti began coverage on shares of TeleTech Holdings in a research note on Monday, August 29th. They set a “neutral” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.00.
In other news, Director Gregory A. Conley sold 1,500 shares of TeleTech Holdings stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $27.34, for a total value of $41,010.00. Following the transaction, the director now owns 5,667 shares of the company’s stock, valued at approximately $154,935.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Martin F. Deghetto sold 14,245 shares of TeleTech Holdings stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $28.37, for a total transaction of $404,130.65. Following the completion of the transaction, the executive vice president now directly owns 81,248 shares in the company, valued at approximately $2,305,005.76. The disclosure for this sale can be found here. 67.30% of the stock is currently owned by insiders.
About TeleTech Holdings
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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