Investors Purchase High Volume of TTEC Put Options (NASDAQ:TTEC)

TTEC Holdings, Inc. (NASDAQ:TTEC) was the target of some unusual options trading on Friday. Traders purchased 10,254 put options on the company. This represents an increase of approximately 4,358% compared to the average daily volume of 230 put options.

TTEC Stock Down 1.0 %

TTEC stock opened at $4.74 on Friday. The company has a market capitalization of $226.24 million, a P/E ratio of -0.68, a P/E/G ratio of 3.16 and a beta of 1.05. TTEC has a 1-year low of $3.67 and a 1-year high of $22.69. The firm’s fifty day simple moving average is $5.06 and its 200-day simple moving average is $5.84. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.47.

Wall Street Analyst Weigh In

TTEC has been the subject of a number of recent analyst reports. Northland Securities decreased their price target on shares of TTEC from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Canaccord Genuity Group cut their target price on shares of TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. StockNews.com downgraded TTEC from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Guggenheim raised TTEC from a “sell” rating to a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, TTEC currently has a consensus rating of “Hold” and a consensus target price of $11.90.

Hedge Funds Weigh In On TTEC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC grew its position in TTEC by 26.0% in the first quarter. ProShare Advisors LLC now owns 364,840 shares of the business services provider’s stock valued at $3,783,000 after acquiring an additional 75,212 shares during the period. Invenomic Capital Management LP acquired a new position in TTEC in the first quarter valued at about $2,910,000. Assenagon Asset Management S.A. bought a new position in TTEC in the second quarter valued at approximately $363,000. Vanguard Group Inc. lifted its holdings in shares of TTEC by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,570,247 shares of the business services provider’s stock valued at $26,653,000 after purchasing an additional 160,567 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of TTEC by 227.2% in the second quarter. AQR Capital Management LLC now owns 630,908 shares of the business services provider’s stock valued at $3,710,000 after purchasing an additional 438,072 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

About TTEC

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.