Duality Advisers LP Purchases New Stake in TTEC Holdings, Inc. (NASDAQ:TTEC)

Duality Advisers LP purchased a new stake in shares of TTEC Holdings, Inc. (NASDAQ:TTEC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,194 shares of the business services provider’s stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in TTEC by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,359,592 shares of the business services provider’s stock valued at $61,869,000 after buying an additional 16,913 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in TTEC by 123.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 502,505 shares of the business services provider’s stock valued at $10,889,000 after buying an additional 277,860 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in TTEC by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 345,718 shares of the business services provider’s stock valued at $9,065,000 after buying an additional 2,989 shares during the last quarter. Victory Capital Management Inc. raised its holdings in TTEC by 18.7% during the 3rd quarter. Victory Capital Management Inc. now owns 299,415 shares of the business services provider’s stock valued at $7,851,000 after buying an additional 47,196 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in TTEC by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 246,425 shares of the business services provider’s stock worth $6,461,000 after purchasing an additional 22,772 shares in the last quarter. 38.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TTEC has been the subject of several research reports. Guggenheim initiated coverage on shares of TTEC in a report on Tuesday, March 19th. They issued a “sell” rating and a $8.00 price objective for the company. Barrington Research lowered shares of TTEC from an “outperform” rating to a “market perform” rating in a report on Monday, March 4th. Canaccord Genuity Group lowered shares of TTEC from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $13.00 price objective (down from $30.00) on shares of TTEC in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

TTEC Stock Down 3.2 %

NASDAQ:TTEC opened at $7.76 on Friday. The firm’s 50-day moving average price is $11.48 and its 200-day moving average price is $17.30. The company has a market capitalization of $368.21 million, a PE ratio of 43.11, a P/E/G ratio of 0.86 and a beta of 0.99. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.69 and a quick ratio of 1.69. TTEC Holdings, Inc. has a 1-year low of $7.73 and a 1-year high of $36.70.

TTEC (NASDAQ:TTEC) last released its earnings results on Thursday, February 29th. The business services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The business had revenue of $626.18 million during the quarter, compared to analysts’ expectations of $602.98 million. TTEC had a return on equity of 13.74% and a net margin of 0.34%. On average, equities analysts predict that TTEC Holdings, Inc. will post 1.16 EPS for the current fiscal year.

TTEC Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 3rd will be given a $0.06 dividend. This represents a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, April 2nd. TTEC’s dividend payout ratio is presently 66.67%.

TTEC 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.