According to Zacks, “Sykes Enterprises, Inc. is a leader in providing vertically integrated technology-based solutions through an integrated strategy combining its information technology services with an emerging e-commerce platform. Sykes’ continues to leverage its position as a leading provider of information technology services by assisting its clients in capitalizing on the growth of e-commerce over the Internet. Sykes’ e-commerce service platform enables it to comprehensively continue to expand by serving as a single-source provider of Internet-based technology solutions. “
Separately, Wells Fargo & Co. reissued 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 issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $32.50.
Sykes Enterprises (NASDAQ:SYKE) last posted its earnings results on Monday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm earned $364.40 million during the quarter, compared to analyst estimates of $336.85 million. Sykes Enterprises had a net margin of 4.71% and a return on equity of 11.36%. Sykes Enterprises’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS.
In other Sykes Enterprises news, CEO Charles E. Sykes sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 298,457 shares of the company’s stock, valued at approximately $8,711,959.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the vice president now directly owns 19,945 shares of the company’s stock, valued at $609,120.30. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Foundry Partners LLC raised its stake in shares of Sykes Enterprises by 5.1% in the third quarter. Foundry Partners LLC now owns 95,284 shares of the company’s stock worth $2,680,000 after buying an additional 4,606 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Sykes Enterprises during the second quarter worth $220,000. Royal Bank of Canada raised its stake in shares of Sykes Enterprises by 102.4% in the second quarter. Royal Bank of Canada now owns 41,320 shares of the company’s stock worth $1,197,000 after buying an additional 20,906 shares in the last quarter. Numeric Investors LLC raised its stake in shares of Sykes Enterprises by 26.6% in the second quarter. Numeric Investors LLC now owns 909,179 shares of the company’s stock worth $26,330,000 after buying an additional 191,200 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Sykes Enterprises by 0.5% in the second quarter. Arizona State Retirement System now owns 20,123 shares of the company’s stock worth $583,000 after buying an additional 100 shares in the last quarter. 86.58% of the stock is owned by institutional investors.
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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