Sykes Enterprises,’s (SYKE) Buy Rating Reiterated at SunTrust Banks, Inc.

Sykes Enterprises, Incorporated (NASDAQ:SYKE)‘s stock had its “buy” rating reaffirmed by SunTrust Banks, Inc. in a report issued on Monday. They currently have a $34.00 price target on the information technology services provider’s stock. SunTrust Banks, Inc.’s price objective points to a potential upside of 17.36% from the company’s current price.

Several other research analysts also recently commented on the company. Robert W. Baird restated a “hold” rating and set a $29.00 price objective on shares of Sykes Enterprises, in a report on Sunday, September 17th. Zacks Investment Research downgraded Sykes Enterprises, from a “hold” rating to a “strong sell” rating in a report on Saturday, August 12th.

Shares of Sykes Enterprises, (NASDAQ SYKE) opened at 28.97 on Monday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 18.22 and a beta of 0.84. The company’s 50 day moving average price is $27.34 and its 200 day moving average price is $30.49. Sykes Enterprises, has a 52-week low of $25.77 and a 52-week high of $34.49.

Sykes Enterprises, (NASDAQ:SYKE) last released its quarterly earnings data on Monday, August 7th. The information technology services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $375.40 million for the quarter, compared to the consensus estimate of $376.83 million. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. Sykes Enterprises,’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, analysts predict that Sykes Enterprises, will post $1.80 EPS for the current year.

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In other news, CEO Charles E. Sykes sold 20,000 shares of Sykes Enterprises, stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $26.27, for a total value of $525,400.00. Following the transaction, the chief executive officer now directly owns 337,999 shares in the company, valued at approximately $8,879,233.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Sykes Enterprises, by 26.7% in the 1st quarter. Bank of America Corp DE now owns 382,430 shares of the information technology services provider’s stock valued at $11,243,000 after acquiring an additional 80,498 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Sykes Enterprises, by 44.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,639 shares of the information technology services provider’s stock valued at $524,000 after acquiring an additional 4,807 shares during the period. BlackRock Inc. increased its holdings in shares of Sykes Enterprises, by 48,788.9% in the 1st quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock valued at $142,885,000 after acquiring an additional 4,850,102 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Sykes Enterprises, by 5.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 257,505 shares of the information technology services provider’s stock valued at $7,571,000 after acquiring an additional 14,385 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Sykes Enterprises, by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 618,302 shares of the information technology services provider’s stock valued at $18,178,000 after acquiring an additional 6,644 shares during the period. Institutional investors and hedge funds own 86.35% of the company’s stock.

Sykes Enterprises, Company Profile

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.

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