Point72 DIFC Ltd Sells 5,768 Shares of TTEC Holdings, Inc. (NASDAQ:TTEC)

Point72 DIFC Ltd cut its stake in TTEC Holdings, Inc. (NASDAQ:TTEC) by 42.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,843 shares of the business services provider’s stock after selling 5,768 shares during the period. Point72 DIFC Ltd’s holdings in TTEC were worth $46,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of TTEC by 26.0% in the first quarter. ProShare Advisors LLC now owns 364,840 shares of the business services provider’s stock worth $3,783,000 after purchasing an additional 75,212 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of TTEC in the first quarter worth about $2,910,000. Assenagon Asset Management S.A. bought a new position in shares of TTEC in the second quarter worth about $363,000. Vanguard Group Inc. grew 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 worth $26,653,000 after purchasing an additional 160,567 shares during the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of TTEC by 45.4% in the fourth quarter. Quadrature Capital Ltd now owns 23,555 shares of the business services provider’s stock worth $511,000 after purchasing an additional 7,356 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TTEC shares. Northland Securities cut their price target on shares of TTEC from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. StockNews.com cut shares of TTEC from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Canaccord Genuity Group dropped their target price on shares of TTEC from $8.00 to $4.50 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, TTEC has an average rating of “Hold” and an average price target of $11.90.

TTEC Stock Up 1.0 %

Shares of TTEC stock opened at $4.05 on Monday. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.56 and a quick ratio of 1.56. TTEC Holdings, Inc. has a 1 year low of $3.67 and a 1 year high of $28.38. The firm’s 50-day moving average is $5.16 and its two-hundred day moving average is $6.74. The stock has a market cap of $193.27 million, a price-to-earnings ratio of -15.58, a PEG ratio of 2.21 and a beta of 1.04.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.14). The firm had revenue of $534.09 million for the quarter, compared to analysts’ expectations of $554.67 million. TTEC had a negative net margin of 13.39% and a positive return on equity of 7.38%. As a group, research analysts expect that TTEC Holdings, Inc. will post 0.44 earnings per share for the current fiscal year.

TTEC Company Profile

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.