Chicago Equity Partners LLC reduced its position in shares of Sykes Enterprises Inc. (NASDAQ:SYKE) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 62,170 shares of the company’s stock after selling 4,070 shares during the period. Chicago Equity Partners LLC’s holdings in Sykes Enterprises were worth $1,800,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC increased its position in Sykes Enterprises by 9.2% in the first quarter. TIAA CREF Investment Management LLC now owns 217,103 shares of the company’s stock worth $6,552,000 after buying an additional 18,250 shares in the last quarter. Capital One National Association increased its position in shares of Sykes Enterprises by 19.1% in the second quarter. Capital One National Association now owns 19,998 shares of the company’s stock valued at $579,000 after buying an additional 3,211 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Sykes Enterprises by 41.7% in the first quarter. Teachers Advisors Inc. now owns 80,263 shares of the company’s stock valued at $2,422,000 after buying an additional 23,603 shares in the last quarter. Strs Ohio increased its position in shares of Sykes Enterprises by 3.6% in the second quarter. Strs Ohio now owns 31,400 shares of the company’s stock valued at $909,000 after buying an additional 1,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Sykes Enterprises by 111.9% in the first quarter. Goldman Sachs Group Inc. now owns 113,268 shares of the company’s stock valued at $3,418,000 after buying an additional 59,805 shares in the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.
Sykes Enterprises Inc. (NASDAQ:SYKE) traded up 0.77% during mid-day trading on Tuesday, reaching $27.62. The company had a trading volume of 176,696 shares. Sykes Enterprises Inc. has a 12-month low of $26.00 and a 12-month high of $33.00. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.40 and a beta of 0.70. The stock has a 50-day moving average of $28.35 and a 200 day moving average of $29.39.
Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Sykes Enterprises had a return on equity of 11.36% and a net margin of 4.71%. The business had revenue of $364.40 million for the quarter, compared to the consensus estimate of $336.85 million. During the same period in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts expect that Sykes Enterprises Inc. will post $1.84 EPS for the current year.
Several research analysts have recently commented on SYKE shares. Zacks Investment Research upgraded Sykes Enterprises from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Friday, August 5th. Wells Fargo & Co. reiterated a “hold” rating on shares of Sykes Enterprises in a research note on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.50.
In related news, VP James T. Holder sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $30.54, for a total transaction of $100,782.00. Following the transaction, the vice president now directly owns 19,945 shares of the company’s stock, valued at approximately $609,120.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles E. Sykes sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $29.19, for a total value of $1,459,500.00. Following the completion of the sale, the chief executive officer now directly owns 298,457 shares of the company’s stock, valued at $8,711,959.83. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Sykes Enterprises Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing arena. The Company provides an array of customer contact management solutions to a range of clients in communications, financial services, technology or consumer, transportation and leisure, healthcare and other industry verticals.
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