First Citizens Bank & Trust Co. cut its position in shares of Sykes Enterprises Inc. (NASDAQ:SYKE) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,846 shares of the company’s stock after selling 1,991 shares during the period. First Citizens Bank & Trust Co.’s holdings in Sykes Enterprises were worth $575,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of Sykes Enterprises during the second quarter worth about $3,081,000. Foundry Partners LLC acquired a new position in shares of Sykes Enterprises during the second quarter worth about $2,626,000. 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 worth $3,418,000 after buying an additional 59,805 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sykes Enterprises by 4.7% in the first quarter. Renaissance Technologies LLC now owns 674,400 shares of the company’s stock worth $20,353,000 after buying an additional 30,100 shares in the last quarter. Finally, 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 worth $2,422,000 after buying an additional 23,603 shares in the last quarter. 86.58% of the stock is owned by institutional investors.
Sykes Enterprises Inc. (NASDAQ:SYKE) traded up 1.03% during mid-day trading on Friday, hitting $27.53. The company had a trading volume of 278,458 shares. Sykes Enterprises Inc. has a 1-year low of $26.00 and a 1-year high of $33.00. The company has a 50 day moving average of $28.46 and a 200 day moving average of $29.44. The firm has a market capitalization of $1.16 billion, a PE ratio of 18.34 and a beta of 0.70.
Sykes Enterprises (NASDAQ:SYKE) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04. Sykes Enterprises had a net margin of 4.71% and a return on equity of 11.36%. The firm earned $364.40 million during the quarter, compared to the consensus estimate of $336.85 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. Analysts predict that Sykes Enterprises Inc. will post $1.84 earnings per share for the current fiscal year.
A number of research firms have weighed in on SYKE. Zacks Investment Research downgraded Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Wells Fargo & Co. reiterated a “hold” rating on shares of Sykes Enterprises in a report on Sunday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Sykes Enterprises presently has a consensus rating of “Hold” and an average price target of $32.50.
In other Sykes Enterprises news, CEO Charles E. Sykes sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were 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 owns 298,457 shares of the company’s stock, valued at $8,711,959.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Meurer sold 10,116 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $30.35, for a total transaction of $307,020.60. Following the completion of the sale, the director now directly owns 60,398 shares of the company’s stock, valued at approximately $1,833,079.30. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
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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