Sykes Enterprises (SYKE) Stock Rating Reaffirmed by Barrington Research

Sykes Enterprises (NASDAQ:SYKE)‘s stock had its “hold” rating reiterated by Barrington Research in a report issued on Thursday.

The analysts wrote, “We believe the margin overage was due to the benefits of revenue upside and strong execution of management’s margin enhancement initiatives.””

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. ValuEngine upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Finally, TheStreet downgraded Sykes Enterprises from a “b-” rating to a “c+” rating in a research note on Monday, April 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given 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.

Shares of Sykes Enterprises opened at $27.46 on Thursday, Marketbeat Ratings reports. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.12. Sykes Enterprises has a fifty-two week low of $25.77 and a fifty-two week high of $34.49. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.32 and a beta of 0.84.

Sykes Enterprises (NASDAQ:SYKE) last issued its earnings results on Monday, May 7th. The information technology services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.15. Sykes Enterprises had a return on equity of 10.07% and a net margin of 1.51%. The company had revenue of $414.37 million for the quarter, compared to analyst estimates of $409.96 million. During the same period in the prior year, the firm posted $0.54 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. equities research analysts expect that Sykes Enterprises will post 2.04 earnings per share for the current fiscal year.

In other news, insider David Pearson sold 5,000 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $31.25, for a total transaction of $156,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lawrence Zingale sold 16,776 shares of the company’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $29.05, for a total value of $487,342.80. Following the sale, the insider now owns 49,708 shares of the company’s stock, valued at approximately $1,444,017.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,776 shares of company stock valued at $830,373. 2.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXA boosted its stake in Sykes Enterprises by 30.6% during the 4th quarter. AXA now owns 216,300 shares of the information technology services provider’s stock valued at $6,803,000 after purchasing an additional 50,700 shares during the period. Teacher Retirement System of Texas bought a new stake in Sykes Enterprises during the 4th quarter valued at approximately $417,000. Pinebridge Investments L.P. boosted its stake in Sykes Enterprises by 79.0% during the 4th quarter. Pinebridge Investments L.P. now owns 75,856 shares of the information technology services provider’s stock valued at $2,385,000 after purchasing an additional 33,482 shares during the period. Swiss National Bank boosted its stake in Sykes Enterprises by 6.3% during the 4th quarter. Swiss National Bank now owns 67,723 shares of the information technology services provider’s stock valued at $2,130,000 after purchasing an additional 4,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Sykes Enterprises by 3.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 322,615 shares of the information technology services provider’s stock valued at $10,147,000 after purchasing an additional 11,413 shares during the period. Institutional investors own 89.82% of the company’s stock.

About Sykes Enterprises

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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