TTEC Target of Unusually Large Options Trading (NASDAQ:TTEC)

TTEC Holdings, Inc. (NASDAQ:TTEC) was the recipient of unusually large options trading on Friday. Investors bought 10,254 put options on the stock. This is an increase of 4,358% compared to the typical daily volume of 230 put options.

Hedge Funds Weigh In On TTEC

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of TTEC by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,570,247 shares of the business services provider’s stock valued at $26,653,000 after purchasing an additional 160,567 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of TTEC by 324.2% in the 2nd quarter. Federated Hermes Inc. now owns 1,180,409 shares of the business services provider’s stock worth $6,941,000 after buying an additional 902,159 shares during the last quarter. Royce & Associates LP grew its holdings in shares of TTEC by 77.6% in the third quarter. Royce & Associates LP now owns 788,622 shares of the business services provider’s stock valued at $4,629,000 after acquiring an additional 344,496 shares in the last quarter. AQR Capital Management LLC increased its position in shares of TTEC by 227.2% during the second quarter. AQR Capital Management LLC now owns 630,908 shares of the business services provider’s stock valued at $3,710,000 after acquiring an additional 438,072 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in TTEC by 44.3% during the third quarter. Walleye Capital LLC now owns 441,151 shares of the business services provider’s stock worth $2,590,000 after acquiring an additional 135,355 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

TTEC Trading Down 2.9 %

TTEC stock traded down $0.14 during mid-day trading on Friday, reaching $4.65. The stock had a trading volume of 150,168 shares, compared to its average volume of 546,413. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.47. TTEC has a fifty-two week low of $3.67 and a fifty-two week high of $22.69. The stock’s 50-day simple moving average is $5.05 and its 200-day simple moving average is $5.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TTEC shares. StockNews.com cut TTEC from a “hold” rating to a “sell” rating in a research note on Friday. Guggenheim upgraded shares of TTEC from a “sell” rating to a “neutral” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group decreased their price objective on shares of TTEC from $8.00 to $4.50 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, Northland Securities dropped their target price on shares of TTEC from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, TTEC presently has a consensus rating of “Hold” and an average target price of $11.90.

TTEC Company Profile

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.