Sykes Enterprises, Incorporated (NASDAQ:SYKE) released its earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05, Bloomberg Earnings reports. Sykes Enterprises, had a return on equity of 11.21% and a net margin of 4.36%. The firm had revenue of $375.40 million for the quarter, compared to the consensus estimate of $376.83 million. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s revenue was up 3.0% on a year-over-year basis.
Shares of Sykes Enterprises, (NASDAQ SYKE) traded down 0.80% during midday trading on Friday, reaching $26.14. The company’s stock had a trading volume of 318,849 shares. Sykes Enterprises, has a 52 week low of $25.77 and a 52 week high of $34.49. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.44 and a beta of 0.75. The company has a 50 day moving average of $31.90 and a 200-day moving average of $30.68.
Several equities analysts recently issued reports on SYKE shares. Zacks Investment Research downgraded Sykes Enterprises, from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 12th. Robert W. Baird cut their target price on Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th.
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In other news, insider Jenna Nelson sold 3,672 shares of Sykes Enterprises, stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $33.99, for a total value of $124,811.28. Following the transaction, the insider now directly owns 14,520 shares of the company’s stock, valued at $493,534.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James T. Holder sold 2,500 shares of Sykes Enterprises, stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $33.00, for a total transaction of $82,500.00. Following the completion of the transaction, the vice president now directly owns 19,119 shares in the company, valued at $630,927. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYKE. BlackRock Inc. boosted its stake in Sykes Enterprises, by 48,788.9% in the first quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock valued at $142,885,000 after buying an additional 4,850,102 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sykes Enterprises, by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,604,490 shares of the information technology services provider’s stock valued at $105,971,000 after buying an additional 188,586 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Sykes Enterprises, by 5.5% in the first quarter. Victory Capital Management Inc. now owns 1,955,030 shares of the information technology services provider’s stock valued at $57,478,000 after buying an additional 101,670 shares in the last quarter. Boston Partners boosted its stake in Sykes Enterprises, by 3.1% in the second quarter. Boston Partners now owns 1,311,924 shares of the information technology services provider’s stock valued at $43,989,000 after buying an additional 39,435 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Sykes Enterprises, by 62.1% in the second quarter. LSV Asset Management now owns 1,289,775 shares of the information technology services provider’s stock valued at $43,246,000 after buying an additional 494,155 shares in the last quarter. 86.45% of the stock is currently owned by institutional investors and hedge funds.
About Sykes Enterprises,
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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