TeleTech (NASDAQ:TTEC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

TeleTech Holdings, Inc. (NASDAQ:TTEC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.57 and traded as high as $2.63. TeleTech shares last traded at $2.60, with a volume of 208,065 shares.

Analyst Ratings Changes

Several research firms have recently commented on TTEC. Weiss Ratings reiterated a “sell (e+)” rating on shares of TeleTech in a report on Friday, July 17th. Zacks Research cut TeleTech from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded TeleTech from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

TeleTech Trading Down 1.9%

The company has a debt-to-equity ratio of 8.74, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market cap of $124.08 million, a PE ratio of -0.61, a price-to-earnings-growth ratio of 0.36 and a beta of 1.03. The company’s 50 day simple moving average is $2.26 and its two-hundred day simple moving average is $2.57.

TeleTech (NASDAQ:TTEC) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.10). TeleTech had a negative net margin of 9.60% and a positive return on equity of 15.66%. The company had revenue of $496.18 million during the quarter, compared to analysts’ expectations of $493.69 million. As a group, sell-side analysts anticipate that TeleTech Holdings, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Trading of TeleTech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of TeleTech by 43.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,957,328 shares of the business services provider’s stock valued at $7,046,000 after buying an additional 597,218 shares in the last quarter. Federated Hermes Inc. boosted its holdings in TeleTech by 22.2% during the 4th quarter. Federated Hermes Inc. now owns 2,541,863 shares of the business services provider’s stock valued at $9,151,000 after acquiring an additional 462,085 shares during the period. Russell Investments Group Ltd. purchased a new position in TeleTech during the 3rd quarter valued at about $404,000. Voleon Capital Management LP acquired a new position in TeleTech in the 3rd quarter valued at about $353,000. Finally, Two Sigma Investments LP grew its position in TeleTech by 19.5% in the 3rd quarter. Two Sigma Investments LP now owns 574,809 shares of the business services provider’s stock valued at $1,931,000 after acquiring an additional 93,978 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

TeleTech Company Profile

TTEC Holdings, Inc (NASDAQ: TTEC) is a global customer experience technology and services company that designs, builds and delivers transformative solutions for customer acquisition and engagement. Leveraging a combination of digital consulting, technology, analytics and operations services, TTEC helps clients across industries enhance their customer journeys, automate key processes and harness data-driven insights to foster loyalty and drive revenue growth.

The company’s core offerings span end-to-end customer engagement solutions, including customer experience (CX) strategy consulting, cloud migration, omni-channel contact center operations and managed services.