Sykes Enterprises, Incorporated (SYKE) Receives “Buy” Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reaffirmed their buy rating on shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) in a report released on Monday morning. The brokerage currently has a $34.00 price target on the information technology services provider’s stock.

Several other equities research analysts have also commented on SYKE. Zacks Investment Research raised shares of Sykes Enterprises, from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research note on Thursday, July 13th. Robert W. Baird dropped their price objective on shares of Sykes Enterprises, from $36.00 to $30.00 and set a neutral rating on the stock in a research note on Tuesday, August 8th.

Sykes Enterprises, (SYKE) opened at 29.83 on Monday. The company has a market cap of $1.25 billion, a PE ratio of 18.76 and a beta of 0.84. Sykes Enterprises, has a 52-week low of $25.77 and a 52-week high of $34.49. The stock’s 50 day moving average is $27.45 and its 200-day moving average is $30.52.

Sykes Enterprises, (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The company had revenue of $375.40 million for the quarter, compared to analysts’ expectations of $376.83 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. Sykes Enterprises,’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Sykes Enterprises, Incorporated (SYKE) Receives “Buy” Rating from SunTrust Banks, Inc.” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/10/sykes-enterprises-incorporated-syke-receives-buy-rating-from-suntrust-banks-inc.html.

In other news, CEO Charles E. Sykes sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total value of $525,400.00. Following the transaction, the chief executive officer now owns 337,999 shares in the company, valued at $8,879,233.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SYKE. UBS Asset Management Americas Inc. lifted its stake in shares of Sykes Enterprises, by 48.6% in the first quarter. UBS Asset Management Americas Inc. now owns 20,871 shares of the information technology services provider’s stock worth $614,000 after buying an additional 6,825 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Sykes Enterprises, in the first quarter worth approximately $751,000. State of Tennessee Treasury Department lifted its stake in shares of Sykes Enterprises, by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 37,149 shares of the information technology services provider’s stock worth $1,092,000 after buying an additional 5,606 shares in the last quarter. Mason Street Advisors LLC lifted its stake in shares of Sykes Enterprises, by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,228 shares of the information technology services provider’s stock worth $271,000 after buying an additional 604 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Sykes Enterprises, by 453.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,275 shares of the information technology services provider’s stock worth $302,000 after buying an additional 8,417 shares in the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

About Sykes Enterprises,

Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and ser

Several other equities research analysts have also commented on SYKE. Zacks Investment Research raised shares of Sykes Enterprises, from a hold rating to a buy rating and set a $37.00 price objective on the stock in a research note on Thursday, July 13th. Robert W. Baird dropped their price objective on shares of Sykes Enterprises, from $36.00 to $30.00 and set a neutral rating on the stock in a research note on Tuesday, August 8th.

Sykes Enterprises, (SYKE) opened at 29.83 on Monday. The company has a market cap of $1.25 billion, a PE ratio of 18.76 and a beta of 0.84. Sykes Enterprises, has a 52-week low of $25.77 and a 52-week high of $34.49. The stock’s 50 day moving average is $27.45 and its 200-day moving average is $30.52.

Sykes Enterprises, (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The company had revenue of $375.40 million for the quarter, compared to analysts’ expectations of $376.83 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. Sykes Enterprises,’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Sykes Enterprises, Incorporated (SYKE) Receives “Buy” Rating from SunTrust Banks, Inc.” was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/10/sykes-enterprises-incorporated-syke-receives-buy-rating-from-suntrust-banks-inc.html.

In other news, CEO Charles E. Sykes sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $26.27, for a total value of $525,400.00. Following the transaction, the chief executive officer now owns 337,999 shares in the company, valued at $8,879,233.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SYKE. UBS Asset Management Americas Inc. lifted its stake in shares of Sykes Enterprises, by 48.6% in the first quarter. UBS Asset Management Americas Inc. now owns 20,871 shares of the information technology services provider’s stock worth $614,000 after buying an additional 6,825 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Sykes Enterprises, in the first quarter worth approximately $751,000. State of Tennessee Treasury Department lifted its stake in shares of Sykes Enterprises, by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 37,149 shares of the information technology services provider’s stock worth $1,092,000 after buying an additional 5,606 shares in the last quarter. Mason Street Advisors LLC lifted its stake in shares of Sykes Enterprises, by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,228 shares of the information technology services provider’s stock worth $271,000 after buying an additional 604 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Sykes Enterprises, by 453.0% in the first quarter. Envestnet Asset Management Inc. now owns 10,275 shares of the information technology services provider’s stock worth $302,000 after buying an additional 8,417 shares in the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

About Sykes Enterprises,

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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