Lazard Asset Management LLC boosted its position in TTEC Holdings, Inc. (NASDAQ:TTEC – Get Rating) by 102.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,277 shares of the business services provider’s stock after acquiring an additional 645 shares during the quarter. Lazard Asset Management LLC’s holdings in TTEC were worth $86,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in TTEC by 151.2% during the first quarter. Bank of America Corp DE now owns 451,451 shares of the business services provider’s stock worth $37,253,000 after purchasing an additional 271,766 shares in the last quarter. Royce & Associates LP acquired a new stake in TTEC during the first quarter worth approximately $10,401,000. BlackRock Inc. raised its holdings in TTEC by 3.4% during the first quarter. BlackRock Inc. now owns 2,930,567 shares of the business services provider’s stock worth $241,829,000 after purchasing an additional 95,573 shares in the last quarter. Pembroke Management LTD raised its holdings in TTEC by 26.2% during the first quarter. Pembroke Management LTD now owns 456,893 shares of the business services provider’s stock worth $37,703,000 after purchasing an additional 94,795 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in TTEC by 14.1% during the second quarter. Copeland Capital Management LLC now owns 568,309 shares of the business services provider’s stock worth $38,583,000 after purchasing an additional 70,018 shares in the last quarter. Institutional investors and hedge funds own 38.19% of the company’s stock.
TTEC Stock Performance
NASDAQ:TTEC opened at $47.29 on Thursday. The firm’s fifty day moving average price is $44.86 and its 200 day moving average price is $57.10. TTEC Holdings, Inc. has a 1-year low of $39.50 and a 1-year high of $95.19. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.23 and a beta of 0.96.
TTEC Increases Dividend
Analysts Set New Price Targets
A number of research firms have weighed in on TTEC. Morgan Stanley cut their price objective on shares of TTEC from $50.00 to $40.00 and set an “underweight” rating on the stock in a report on Friday, November 11th. StockNews.com raised shares of TTEC from a “hold” rating to a “buy” rating in a report on Monday. Canaccord Genuity Group cut their target price on shares of TTEC from $120.00 to $100.00 in a report on Thursday, August 25th. Bank of America cut shares of TTEC from a “buy” rating to a “neutral” rating and cut their target price for the company from $68.00 to $48.00 in a report on Monday, October 10th. Finally, Craig Hallum cut their target price on shares of TTEC to $60.00 in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, TTEC has a consensus rating of “Hold” and a consensus target price of $58.50.
TTEC Company Profile
TTEC Holdings, Inc, a customer experience technology and services company, that designs, builds, orchestrates, and delivers digitally enabled customer experiences designed for various brands. It operates in two segments, TTEC Digital and TTEC Engage. The TTEC Digital segments designs, builds, and operates robust digital experiences for clients and their customers through the contextual integration and orchestration of customer relationship management, data, analytics, customer experience as a service technology, and intelligent automation to ensure customer experience (CX) outcomes.
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