Shares of Sykes Enterprises Inc. (NASDAQ:SYKE) have received an average recommendation of “Hold” from the six research firms that are covering the company. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.
SYKE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Sykes Enterprises from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, August 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Sykes Enterprises in a report on Sunday, September 4th.
In related news, CEO Charles E. Sykes sold 50,000 shares of the 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 transaction, the chief executive officer now owns 298,457 shares in the company, valued at approximately $8,711,959.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul L. Whiting sold 13,700 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $29.61, for a total transaction of $405,657.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SYKE. Norges Bank acquired a new position in Sykes Enterprises during the fourth quarter valued at $17,835,000. Glenmede Trust Co. NA raised its position in Sykes Enterprises by 29,138.0% in the first quarter. Glenmede Trust Co. NA now owns 74,557 shares of the company’s stock valued at $2,249,000 after buying an additional 74,302 shares during the period. Aperio Group LLC raised its position in Sykes Enterprises by 5.3% in the first quarter. Aperio Group LLC now owns 29,323 shares of the company’s stock valued at $885,000 after buying an additional 1,479 shares during the period. TIAA CREF Investment Management LLC raised 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 valued at $6,552,000 after buying an additional 18,250 shares during the period. Finally, Teachers Advisors Inc. raised its position in 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 during the period. Hedge funds and other institutional investors own 86.58% of the company’s stock.
Sykes Enterprises (NASDAQ:SYKE) opened at 28.59 on Wednesday. The firm’s 50-day moving average is $29.38 and its 200-day moving average is $29.59. The firm has a market cap of $1.20 billion, a PE ratio of 19.05 and a beta of 0.69. Sykes Enterprises has a 12 month low of $24.91 and a 12 month high of $33.00.
Sykes Enterprises (NASDAQ:SYKE) last issued its earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $336.85 million. Sykes Enterprises had a net margin of 4.71% and a return on equity of 11.36%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Equities analysts expect that Sykes Enterprises will post $1.84 earnings per share for the current year.
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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