State of Tennessee Treasury Department cut its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,510 shares of the information technology services provider’s stock after selling 3,431 shares during the period. State of Tennessee Treasury Department owned approximately 0.07% of Sykes Enterprises worth $991,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in Sykes Enterprises by 534.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,628 shares of the information technology services provider’s stock worth $4,328,000 after acquiring an additional 115,928 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Sykes Enterprises by 53.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 21,587 shares of the information technology services provider’s stock valued at $679,000 after purchasing an additional 7,541 shares during the period. BlackRock Inc. boosted its holdings in Sykes Enterprises by 3.0% in the fourth quarter. BlackRock Inc. now owns 5,096,687 shares of the information technology services provider’s stock valued at $160,292,000 after purchasing an additional 149,701 shares during the period. Rhumbline Advisers boosted its holdings in Sykes Enterprises by 16.1% in the fourth quarter. Rhumbline Advisers now owns 95,321 shares of the information technology services provider’s stock valued at $2,998,000 after purchasing an additional 13,189 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Sykes Enterprises by 223.6% in the fourth quarter. Arizona State Retirement System now owns 67,053 shares of the information technology services provider’s stock valued at $2,109,000 after purchasing an additional 46,330 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.
A number of research firms recently issued reports on SYKE. BidaskClub upgraded Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Tuesday. Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a report on Sunday, March 11th. Zacks Investment Research raised Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, ValuEngine raised Sykes Enterprises from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sykes Enterprises presently has an average rating of “Buy” and a consensus price target of $32.00.
Shares of SYKE stock traded up $0.11 during mid-day trading on Wednesday, reaching $30.85. The company had a trading volume of 26,035 shares, compared to its average volume of 155,253. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.58 and a quick ratio of 3.58. Sykes Enterprises, Incorporated has a 1 year low of $25.77 and a 1 year high of $34.49. The firm has a market cap of $1,328.58, a PE ratio of 15.48, a PEG ratio of 1.55 and a beta of 0.86.
Sykes Enterprises (NASDAQ:SYKE) last released its earnings results on Monday, February 26th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The company had revenue of $419.25 million for the quarter, compared to analysts’ expectations of $410.02 million. Sykes Enterprises had a return on equity of 10.80% and a net margin of 2.03%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. equities research analysts predict that Sykes Enterprises, Incorporated will post 2 earnings per share for the current year.
In other Sykes Enterprises news, insider David Pearson sold 5,000 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $31.25, for a total value of $156,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Chapman sold 6,000 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $31.13, for a total value of $186,780.00. Following the completion of the transaction, the chief financial officer now owns 15,589 shares of the company’s stock, valued at $485,285.57. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
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Sykes Enterprises Company Profile
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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