Investment analysts at Bank of America assumed coverage on shares of TTEC (NASDAQ:TTEC) in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $48.00 price target on the business services provider’s stock. Bank of America‘s target price would indicate a potential upside of 15.83% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. William Blair started coverage on TTEC in a report on Monday, December 30th. They issued an “outperform” rating for the company. Sidoti started coverage on TTEC in a research report on Thursday, September 19th. They set a “buy” rating for the company. ValuEngine cut TTEC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Northland Securities started coverage on TTEC in a research report on Wednesday, January 8th. They set an “outperform” rating and a $60.00 price target for the company. Finally, BidaskClub raised TTEC from a “sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. TTEC has an average rating of “Buy” and an average target price of $55.25.
Shares of TTEC stock opened at $41.44 on Tuesday. The stock’s fifty day simple moving average is $39.86 and its 200 day simple moving average is $44.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.69 and a beta of 0.64. TTEC has a one year low of $30.53 and a one year high of $50.45.
In other news, CEO Kenneth D. Tuchman sold 3,000,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $36.50, for a total transaction of $109,500,000.00. Following the transaction, the chief executive officer now owns 3,686,901 shares in the company, valued at $134,571,886.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kenneth D. Tuchman sold 450,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $36.50, for a total value of $16,425,000.00. Following the transaction, the chief executive officer now owns 6,686,901 shares in the company, valued at approximately $244,071,886.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,458,588 shares of company stock worth $126,354,486. 69.45% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in TTEC in the third quarter worth approximately $60,000. Royal Bank of Canada increased its holdings in shares of TTEC by 63.2% in the 2nd quarter. Royal Bank of Canada now owns 1,532 shares of the business services provider’s stock worth $71,000 after buying an additional 593 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of TTEC in the 4th quarter worth about $130,000. Point72 Asset Management L.P. bought a new stake in shares of TTEC in the 3rd quarter worth about $139,000. Finally, Bank of Montreal Can increased its holdings in shares of TTEC by 99.4% in the 2nd quarter. Bank of Montreal Can now owns 3,276 shares of the business services provider’s stock worth $154,000 after buying an additional 1,633 shares during the last quarter. Institutional investors own 26.46% of the company’s stock.
TTEC Company Profile
TTEC Holdings, Inc designs and provides customer experience solutions in the United States, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Canada, the United Kingdom, and internationally. It operates in four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS), and Customer Strategy Services (CSS).
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