Sei Investments Co. Cuts Position in TTEC Holdings, Inc. (NASDAQ:TTEC)

Sei Investments Co. decreased its position in TTEC Holdings, Inc. (NASDAQ:TTEC) by 43.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,548 shares of the business services provider’s stock after selling 8,104 shares during the period. Sei Investments Co.’s holdings in TTEC were worth $1,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TTEC. Fiera Capital Corp acquired a new stake in TTEC in the first quarter valued at $49,316,000. Envestnet Asset Management Inc. boosted its stake in shares of TTEC by 891.3% during the second quarter. Envestnet Asset Management Inc. now owns 365,446 shares of the business services provider’s stock valued at $37,674,000 after acquiring an additional 328,581 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of TTEC by 229.6% during the first quarter. New York State Common Retirement Fund now owns 160,228 shares of the business services provider’s stock valued at $16,095,000 after acquiring an additional 111,615 shares during the last quarter. BlackRock Inc. boosted its stake in shares of TTEC by 3.6% during the first quarter. BlackRock Inc. now owns 2,846,264 shares of the business services provider’s stock valued at $285,908,000 after acquiring an additional 98,997 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of TTEC during the first quarter valued at $8,757,000. 35.66% of the stock is currently owned by institutional investors.

In related news, CEO Kenneth D. Tuchman sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $105.49, for a total transaction of $1,160,390.00. Following the sale, the chief executive officer now directly owns 6,676,901 shares in the company, valued at approximately $704,346,286.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth D. Tuchman sold 13,000 shares of the firm’s stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $111.06, for a total value of $1,443,780.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,400 shares of company stock worth $13,162,052. Company insiders own 60.90% of the company’s stock.

TTEC stock opened at $91.87 on Tuesday. The stock’s 50-day moving average is $103.44 and its 200-day moving average is $102.23. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.72 and a quick ratio of 1.72. TTEC Holdings, Inc. has a 12 month low of $51.29 and a 12 month high of $113.37.

TTEC (NASDAQ:TTEC) last released its quarterly earnings data on Tuesday, August 3rd. The business services provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.41. The company had revenue of $554.79 million for the quarter, compared to the consensus estimate of $535.22 million. TTEC had a return on equity of 40.58% and a net margin of 7.58%. Research analysts anticipate that TTEC Holdings, Inc. will post 3.86 EPS for the current year.

A number of brokerages have issued reports on TTEC. Canaccord Genuity raised their price target on TTEC from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Morgan Stanley raised their price target on TTEC from $95.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 5th. William Blair reissued a “buy” rating on shares of TTEC in a research note on Wednesday, August 25th. Finally, Zacks Investment Research lowered TTEC from a “buy” rating to a “hold” rating in a research note on Wednesday, August 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, TTEC currently has a consensus rating of “Buy” and a consensus price target of $114.60.

About TTEC

TTEC Holdings, Inc is a digital global customer experience technology and services company. It focuses on the design, implementation and delivery of transformative solutions for many of brands. The firm operates through the following segments: TTEC Digital and TTEC Engage. The TTEC Digital segment provides design, build and operate tech-enabled, insight-driven CX solutions.

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Institutional Ownership by Quarter for TTEC (NASDAQ:TTEC)

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