Brokerages Set Sykes Enterprises (SYKE) Target Price at $31.50

Shares of Sykes Enterprises (NASDAQ:SYKE) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.50.

Several research firms have weighed in on SYKE. ValuEngine cut shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub cut shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Barrington Research reiterated a “hold” rating on shares of Sykes Enterprises in a research report on Sunday, March 11th. Finally, Zacks Investment Research upgraded shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd.

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In other news, CFO John Chapman sold 6,000 shares of Sykes Enterprises stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $31.13, for a total transaction of $186,780.00. Following the completion of the sale, the chief financial officer now owns 15,589 shares in the company, valued at approximately $485,285.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Pearson sold 5,000 shares of Sykes Enterprises stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $31.25, for a total transaction of $156,250.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,776 shares of company stock valued at $994,673. 2.70% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of SYKE. Macquarie Group Ltd. acquired a new stake in shares of Sykes Enterprises during the 3rd quarter worth approximately $124,000. Pillar Pacific Capital Management LLC bought a new position in Sykes Enterprises during the 4th quarter worth approximately $210,000. Eqis Capital Management Inc. bought a new position in Sykes Enterprises during the 4th quarter worth approximately $215,000. AMP Capital Investors Ltd bought a new position in Sykes Enterprises during the 4th quarter worth approximately $217,000. Finally, PEAK6 Investments L.P. bought a new position in Sykes Enterprises during the 4th quarter worth approximately $229,000. Institutional investors own 88.77% of the company’s stock.

SYKE traded down $0.51 during midday trading on Friday, hitting $28.38. The company had a trading volume of 109,251 shares, compared to its average volume of 156,505. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1,226.91, a PE ratio of 14.28, a PEG ratio of 1.43 and a beta of 0.83. Sykes Enterprises has a twelve month low of $25.77 and a twelve month high of $34.49.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.07. The firm had revenue of $419.25 million during the quarter, compared to analysts’ expectations of $410.02 million. Sykes Enterprises had a net margin of 2.03% and a return on equity of 10.80%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. research analysts predict that Sykes Enterprises will post 2 EPS for the current year.

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Sykes Enterprises Company Profile

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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