Vanguard Group Inc. Decreases Stake in Sykes Enterprises, Incorporated (SYKE)

Vanguard Group Inc. cut its position in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,515,313 shares of the information technology services provider’s stock after selling 68,679 shares during the period. Vanguard Group Inc. owned 10.81% of Sykes Enterprises, worth $132,751,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Sykes Enterprises, by 8.4% in the fourth quarter. State Street Corp now owns 961,397 shares of the information technology services provider’s stock worth $27,745,000 after buying an additional 74,774 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Sykes Enterprises, during the fourth quarter worth approximately $355,000. Guggenheim Capital LLC boosted its position in Sykes Enterprises, by 178.3% in the fourth quarter. Guggenheim Capital LLC now owns 74,584 shares of the information technology services provider’s stock worth $2,153,000 after buying an additional 47,783 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Sykes Enterprises, by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,280 shares of the information technology services provider’s stock worth $614,000 after buying an additional 990 shares in the last quarter. Finally, Norges Bank purchased a new position in Sykes Enterprises, during the fourth quarter worth approximately $19,123,000. 86.45% of the stock is owned by institutional investors and hedge funds.

Sykes Enterprises, Incorporated (SYKE) traded down 0.80% during mid-day trading on Friday, reaching $26.14. 318,849 shares of the company’s stock traded hands. Sykes Enterprises, Incorporated has a 52 week low of $25.77 and a 52 week high of $34.49. The stock’s 50 day moving average is $31.90 and its 200-day moving average is $30.68. The stock has a market capitalization of $1.09 billion, a PE ratio of 16.44 and a beta of 0.75.

Sykes Enterprises, (NASDAQ:SYKE) last announced its earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, equities analysts anticipate that Sykes Enterprises, Incorporated will post $1.80 EPS for the current year.

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A number of equities research analysts recently weighed in on SYKE shares. Zacks Investment Research upgraded shares of Sykes Enterprises, from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, May 3rd. Robert W. Baird cut their price objective on shares of Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th.

In related news, VP James T. Holder sold 2,500 shares of Sykes Enterprises, stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $33.00, for a total value of $82,500.00. Following the transaction, the vice president now directly owns 19,119 shares in the company, valued at approximately $630,927. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jenna Nelson sold 3,672 shares of Sykes Enterprises, stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $33.99, for a total transaction of $124,811.28. Following the completion of the transaction, the insider now owns 14,520 shares in the company, valued at $493,534.80. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.

Institutional Ownership by Quarter for Sykes Enterprises, (NASDAQ:SYKE)

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