California Public Employees Retirement System boosted its position in TeleTech Holdings, Inc. (NASDAQ:TTEC) by 17.5% during the third quarter, Holdings Channel reports. The institutional investor owned 57,691 shares of the business services provider’s stock after purchasing an additional 8,591 shares during the period. California Public Employees Retirement System’s holdings in TeleTech were worth $2,409,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stevens Capital Management LP purchased a new stake in TeleTech in the second quarter valued at approximately $201,000. Municipal Employees Retirement System of Michigan boosted its position in TeleTech by 43.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,350 shares of the business services provider’s stock valued at $223,000 after buying an additional 1,620 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in TeleTech by 88.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the business services provider’s stock valued at $240,000 after buying an additional 2,759 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in TeleTech in the second quarter valued at approximately $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in TeleTech in the second quarter valued at approximately $263,000. Hedge funds and other institutional investors own 24.80% of the company’s stock.
Shares of TeleTech Holdings, Inc. (TTEC) opened at $40.40 on Thursday. The company has a market capitalization of $1,847.72, a P/E ratio of 38.48, a P/E/G ratio of 1.99 and a beta of 0.89. TeleTech Holdings, Inc. has a 52-week low of $28.20 and a 52-week high of $43.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.13 and a quick ratio of 2.13.
TeleTech (NASDAQ:TTEC) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. TeleTech had a return on equity of 19.24% and a net margin of 3.45%. The business had revenue of $359.04 million for the quarter, compared to analyst estimates of $348.94 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. equities analysts expect that TeleTech Holdings, Inc. will post 1.75 EPS for the current year.
In other TeleTech news, SVP Steven C. Pollema sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 70.00% of the company’s stock.
A number of equities research analysts recently commented on TTEC shares. SunTrust Banks reiterated a “hold” rating and issued a $43.00 target price on shares of TeleTech in a research report on Monday, October 9th. Zacks Investment Research upgraded TeleTech from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, November 14th. ValuEngine lowered TeleTech from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub lowered TeleTech from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $44.00.
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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