Bank of New York Mellon Corp Reduces Position in Sykes Enterprises, Incorporated (SYKE)

Bank of New York Mellon Corp trimmed its position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 502,698 shares of the information technology services provider’s stock after selling 21,819 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of Sykes Enterprises worth $14,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC increased its stake in Sykes Enterprises by 57.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock worth $122,000 after buying an additional 1,331 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Sykes Enterprises by 7.4% during the second quarter. Public Employees Retirement System of Ohio now owns 4,039 shares of the information technology services provider’s stock valued at $135,000 after purchasing an additional 280 shares in the last quarter. Sei Investments Co. grew its position in shares of Sykes Enterprises by 0.3% during the second quarter. Sei Investments Co. now owns 5,379 shares of the information technology services provider’s stock valued at $181,000 after purchasing an additional 15 shares in the last quarter. C M Bidwell & Associates Ltd. grew its position in shares of Sykes Enterprises by 72.6% during the second quarter. C M Bidwell & Associates Ltd. now owns 6,335 shares of the information technology services provider’s stock valued at $212,000 after purchasing an additional 2,665 shares in the last quarter. Finally, Suntrust Banks Inc. purchased a new position in Sykes Enterprises in the second quarter worth about $218,000. 85.64% of the stock is currently owned by hedge funds and other institutional investors.

In other Sykes Enterprises news, CEO Charles E. Sykes sold 10,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $31.16, for a total value of $311,600.00. Following the completion of the transaction, the chief executive officer now owns 275,589 shares in the company, valued at $8,587,353.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles E. Sykes sold 40,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.17, for a total transaction of $1,246,800.00. Following the transaction, the chief executive officer now owns 285,189 shares of the company’s stock, valued at approximately $8,889,341.13. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Sykes Enterprises, Incorporated (NASDAQ:SYKE) traded up $0.49 during midday trading on Friday, reaching $31.89. 143,735 shares of the company’s stock traded hands, compared to its average volume of 156,933. The stock has a market capitalization of $1,320.00, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.55 and a beta of 0.89. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.33. Sykes Enterprises, Incorporated has a fifty-two week low of $25.77 and a fifty-two week high of $34.49.

Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings data on Monday, November 6th. The information technology services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The firm had revenue of $407.31 million for the quarter, compared to analyst estimates of $399.22 million. Sykes Enterprises had a net margin of 4.32% and a return on equity of 11.33%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 earnings per share. analysts forecast that Sykes Enterprises, Incorporated will post 1.93 EPS for the current year.

Several research analysts recently commented on the company. BidaskClub lowered Sykes Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Zacks Investment Research downgraded shares of Sykes Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $29.00 price target on shares of Sykes Enterprises in a research note on Sunday, October 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price target on shares of Sykes Enterprises in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Sykes Enterprises presently has an average rating of “Hold” and a consensus target price of $33.50.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2018/01/13/bank-of-new-york-mellon-corp-has-14-66-million-position-in-sykes-enterprises-incorporated-syke.html.

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.

Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

Receive News & Ratings for Sykes Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sykes Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply