Shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) have been assigned a consensus rating of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.00.
A number of brokerages have recently weighed in on SYKE. BidaskClub cut Sykes Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 30th. ValuEngine cut Sykes Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Finally, Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a research note on Monday, November 12th.
In other news, VP James T. Holder sold 2,500 shares of Sykes Enterprises stock in a transaction on Friday, November 30th. The stock was sold at an average price of $27.31, for a total value of $68,275.00. Following the completion of the sale, the vice president now directly owns 17,206 shares of the company’s stock, valued at $469,895.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SYKE. BlackRock Inc. grew its stake in shares of Sykes Enterprises by 6.4% in the second quarter. BlackRock Inc. now owns 5,484,321 shares of the information technology services provider’s stock valued at $157,841,000 after buying an additional 328,065 shares in the last quarter. Matarin Capital Management LLC acquired a new position in Sykes Enterprises during the 3rd quarter worth $6,211,000. TD Asset Management Inc. grew its stake in Sykes Enterprises by 622.9% during the 2nd quarter. TD Asset Management Inc. now owns 227,000 shares of the information technology services provider’s stock worth $6,533,000 after purchasing an additional 195,600 shares in the last quarter. River Road Asset Management LLC grew its stake in Sykes Enterprises by 23.9% during the 3rd quarter. River Road Asset Management LLC now owns 673,392 shares of the information technology services provider’s stock worth $20,532,000 after purchasing an additional 129,993 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Sykes Enterprises by 28.7% during the 3rd quarter. Acadian Asset Management LLC now owns 462,412 shares of the information technology services provider’s stock worth $14,099,000 after purchasing an additional 103,182 shares in the last quarter. 88.01% of the stock is owned by institutional investors and hedge funds.
NASDAQ:SYKE opened at $25.67 on Wednesday. Sykes Enterprises has a 52 week low of $25.12 and a 52 week high of $32.15. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.24 and a beta of 0.55.
Sykes Enterprises (NASDAQ:SYKE) last posted its earnings results on Monday, November 5th. The information technology services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Sykes Enterprises had a return on equity of 10.08% and a net margin of 0.91%. The company had revenue of $399.30 million for the quarter, compared to the consensus estimate of $404.79 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts predict that Sykes Enterprises will post 2.11 EPS for the current fiscal year.
Sykes Enterprises Company Profile
Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.
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