TTEC (NASDAQ:TTEC) Price Target Cut to $3.50 by Analysts at Canaccord Genuity Group

TTEC (NASDAQ:TTEC) had its target price reduced by Canaccord Genuity Group from $4.50 to $3.50 in a report released on Monday morning,Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Separately, StockNews.com raised TTEC from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.13.

TTEC Stock Down 0.6 %

NASDAQ TTEC opened at $3.41 on Monday. The stock has a fifty day moving average of $3.91 and a 200-day moving average of $4.61. The stock has a market capitalization of $162.76 million, a P/E ratio of -0.49, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. TTEC has a 52 week low of $3.31 and a 52 week high of $12.08. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.93 and a current ratio of 1.93.

TTEC (NASDAQ:TTEC) last released its earnings results on Thursday, February 27th. The business services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.09). The firm had revenue of $567.44 million during the quarter, compared to analyst estimates of $575.73 million. TTEC had a negative net margin of 14.69% and a positive return on equity of 5.00%. On average, equities research analysts forecast that TTEC will post 0.33 EPS for the current year.

Institutional Investors Weigh In On TTEC

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of TTEC during the third quarter worth $59,000. GAMMA Investing LLC grew its stake in shares of TTEC by 1,054.6% during the fourth quarter. GAMMA Investing LLC now owns 12,828 shares of the business services provider’s stock worth $64,000 after purchasing an additional 11,717 shares during the period. Quantbot Technologies LP grew its stake in shares of TTEC by 140.5% during the fourth quarter. Quantbot Technologies LP now owns 12,883 shares of the business services provider’s stock worth $64,000 after purchasing an additional 7,527 shares during the period. Pacific Sun Financial Corp acquired a new stake in shares of TTEC during the fourth quarter worth $72,000. Finally, JPMorgan Chase & Co. grew its stake in shares of TTEC by 77.0% during the fourth quarter. JPMorgan Chase & Co. now owns 16,892 shares of the business services provider’s stock worth $84,000 after purchasing an additional 7,347 shares during the period. 38.03% of the stock is owned by institutional investors and hedge funds.

TTEC Company Profile

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.