Summit Global Investments Purchases 3,059 Shares of TTEC Holdings, Inc. (NASDAQ:TTEC)

Summit Global Investments lifted its position in shares of TTEC Holdings, Inc. (NASDAQ:TTEC) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,734 shares of the business services provider’s stock after buying an additional 3,059 shares during the quarter. Summit Global Investments’ holdings in TTEC were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 16,913 shares during the period. Assenagon Asset Management S.A. boosted its holdings in TTEC by 123.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 502,505 shares of the business services provider’s stock worth $10,889,000 after acquiring an additional 277,860 shares in the last quarter. Bank of New York Mellon Corp grew its stake in TTEC by 0.9% in the third 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 acquiring an additional 2,989 shares during the period. Victory Capital Management Inc. increased its holdings in shares of TTEC by 18.7% during the third quarter. Victory Capital Management Inc. now owns 299,415 shares of the business services provider’s stock valued at $7,851,000 after acquiring an additional 47,196 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 valued at $6,461,000 after purchasing an additional 22,772 shares during the period. Institutional investors own 38.03% of the company’s stock.

TTEC Trading Up 1.7 %

Shares of TTEC opened at $7.66 on Monday. The firm has a market cap of $363.47 million, a P/E ratio of 42.56, a price-to-earnings-growth ratio of 0.83 and a beta of 1.06. TTEC Holdings, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $36.70. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.69 and a current ratio of 1.69. The business has a 50-day moving average of $10.19 and a 200 day moving average of $16.52.

TTEC (NASDAQ:TTEC) last posted its earnings results on Thursday, February 29th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate 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%. As a group, research analysts forecast that TTEC Holdings, Inc. will post 1.16 EPS for the current year.

TTEC Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 3rd were issued a $0.06 dividend. This represents a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, April 2nd. TTEC’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

TTEC has been the topic of a number of recent research reports. Canaccord Genuity Group lowered shares of TTEC from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Barrington Research cut TTEC from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. Guggenheim initiated coverage on TTEC in a research report on Tuesday, March 19th. They issued a “sell” rating and a $8.00 price target for the company. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $13.00 price objective (down from $30.00) on shares of TTEC in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.50.

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.