TeleTech Holdings, Inc. (TTEC) Downgraded to “Hold” at Zacks Investment Research

TeleTech Holdings, Inc. (NASDAQ:TTEC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “TeleTech Holdings, Inc. is a leading provider of eCommerce-enabling customer management solutions for large domestic, foreign and multinational companies. The company’s programs include both automated and human-assisted support and involve all stages of the customer relationship. Programs consist of a variety of customer management and product support activities, such as providing new product information, enrolling customers in client programs, providing 24-hour technical and help desk support and resolving customer complaints. “

Other research analysts also recently issued reports about the company. BidaskClub downgraded TeleTech Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $43.00 target price on shares of TeleTech Holdings in a report on Monday, October 9th.

Shares of TeleTech Holdings (TTEC) opened at $38.75 on Wednesday. TeleTech Holdings has a 12 month low of $24.59 and a 12 month high of $43.75. The firm has a market capitalization of $1,735.39, a P/E ratio of 23.66, a PEG ratio of 2.16 and a beta of 0.91. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.64.

TeleTech Holdings (NASDAQ:TTEC) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. TeleTech Holdings had a return on equity of 19.24% and a net margin of 3.45%. The company had revenue of $359.04 million for the quarter, compared to analyst estimates of $348.94 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. sell-side analysts predict that TeleTech Holdings will post 1.75 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan lifted its holdings in TeleTech Holdings by 4.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,730 shares of the business services provider’s stock worth $152,000 after buying an additional 160 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of TeleTech Holdings by 4.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 8,970 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 380 shares during the period. Bessemer Group Inc. lifted its stake in shares of TeleTech Holdings by 1.4% in the 2nd quarter. Bessemer Group Inc. now owns 30,711 shares of the business services provider’s stock valued at $1,253,000 after purchasing an additional 411 shares during the period. TD Asset Management Inc. lifted its stake in shares of TeleTech Holdings by 2.2% in the 2nd quarter. TD Asset Management Inc. now owns 23,600 shares of the business services provider’s stock valued at $963,000 after purchasing an additional 500 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of TeleTech Holdings by 8.1% in the 2nd quarter. Voya Investment Management LLC now owns 10,136 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 759 shares during the period. 25.72% of the stock is currently owned by hedge funds and other institutional investors.

About TeleTech Holdings

TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).

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