FMR LLC reduced its position in shares of TeleTech Holdings, Inc. (NASDAQ:TTEC) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,500 shares of the business services provider’s stock after selling 38,900 shares during the period. FMR LLC owned 0.25% of TeleTech Holdings worth $3,330,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TTEC. Principal Financial Group Inc. boosted its stake in shares of TeleTech Holdings by 3.4% in the first quarter. Principal Financial Group Inc. now owns 126,870 shares of the business services provider’s stock valued at $3,755,000 after buying an additional 4,221 shares during the period. OppenheimerFunds Inc. boosted its position in shares of TeleTech Holdings by 25.1% in the first quarter. OppenheimerFunds Inc. now owns 32,170 shares of the business services provider’s stock valued at $952,000 after buying an additional 6,447 shares during the last quarter. WBI Investments Inc. purchased a new position in shares of TeleTech Holdings during the first quarter valued at approximately $871,000. Arizona State Retirement System boosted its position in shares of TeleTech Holdings by 1.2% in the first quarter. Arizona State Retirement System now owns 8,195 shares of the business services provider’s stock valued at $243,000 after buying an additional 100 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of TeleTech Holdings by 24.6% in the first quarter. Victory Capital Management Inc. now owns 5,826 shares of the business services provider’s stock valued at $172,000 after buying an additional 1,151 shares during the last quarter. 27.03% of the stock is owned by institutional investors.
Shares of TeleTech Holdings, Inc. (TTEC) opened at 39.95 on Friday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 41.53 and a beta of 0.90. The firm’s 50-day moving average is $41.19 and its 200-day moving average is $35.56. TeleTech Holdings, Inc. has a 12-month low of $24.45 and a 12-month high of $43.45.
TeleTech Holdings (NASDAQ:TTEC) last issued its earnings results on Monday, August 7th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.05. TeleTech Holdings had a net margin of 3.30% and a return on equity of 19.49%. The firm had revenue of $353.42 million for the quarter, compared to analysts’ expectations of $332.52 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts predict that TeleTech Holdings, Inc. will post $1.77 EPS for the current year.
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Several equities analysts have recently commented on TTEC shares. TheStreet upgraded shares of TeleTech Holdings from a “c+” rating to a “b” rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of TeleTech Holdings from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Friday, August 11th. Finally, BidaskClub lowered shares of TeleTech Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th.
In other news, SVP Steven C. Pollema sold 1,317 shares of TeleTech Holdings stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $42.01, for a total value of $55,327.17. Following the completion of the transaction, the senior vice president now owns 6,880 shares of the company’s stock, valued at approximately $289,028.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert N. Jimenez sold 6,500 shares of TeleTech Holdings stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $42.58, for a total value of $276,770.00. Following the completion of the transaction, the executive vice president now directly owns 9,390 shares of the company’s stock, valued at approximately $399,826.20. The disclosure for this sale can be found here. Insiders own 70.00% of the company’s stock.
About TeleTech Holdings
TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
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