Alps Advisors Inc. cut its stake in shares of Sykes Enterprises Inc. (NASDAQ:SYKE) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,768 shares of the company’s stock after selling 1,009 shares during the period. Alps Advisors Inc.’s holdings in Sykes Enterprises were worth $399,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TIAA CREF Investment Management LLC increased its position in shares of 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. 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 during the period. 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 during the period. 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 during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Sykes Enterprises by 94.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,239 shares of the company’s stock valued at $383,000 after buying an additional 6,422 shares during the period. Institutional investors own 86.58% of the company’s stock.
Sykes Enterprises Inc. (NASDAQ:SYKE) traded down 0.98% during mid-day trading on Monday, hitting $27.20. The stock had a trading volume of 622,624 shares. The firm’s 50-day moving average is $28.73 and its 200 day moving average is $29.50. The stock has a market cap of $1.14 billion, a PE ratio of 18.12 and a beta of 0.70. Sykes Enterprises Inc. has a one year low of $26.00 and a one year high of $33.00.
Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 1st. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The company earned $364.40 million during 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 business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts expect that Sykes Enterprises Inc. will post $1.84 EPS for the current year.
Several research analysts have weighed in on SYKE shares. Wells Fargo & Co. reiterated a “hold” rating on shares of Sykes Enterprises in a report on Sunday, September 4th. Zacks Investment Research downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Sykes Enterprises currently has an average rating of “Hold” and an average price target of $32.50.
In other news, VP James T. Holder sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $30.54, for a total value of $100,782.00. Following the completion of the transaction, the vice president now owns 19,945 shares in the company, valued at $609,120.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles E. Sykes sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $29.19, for a total transaction of $1,459,500.00. Following the completion of the transaction, the chief executive officer now owns 298,457 shares of the company’s stock, valued at approximately $8,711,959.83. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by 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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