Canaccord Genuity Group Cuts TTEC (NASDAQ:TTEC) Price Target to $3.50

TTEC (NASDAQ:TTEC) had its target price decreased by investment analysts at Canaccord Genuity Group from $4.50 to $3.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 3.55% from the company’s previous close.

Separately, StockNews.com raised TTEC from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, TTEC presently has an average rating of “Hold” and a consensus target price of $10.13.

TTEC Trading Down 7.4 %

TTEC opened at $3.38 on Monday. The firm’s 50 day moving average is $3.99 and its 200-day moving average is $4.63. TTEC has a 52-week low of $3.32 and a 52-week high of $18.11. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $161.32 million, a P/E ratio of -0.48, a P/E/G ratio of 1.53 and a beta of 1.04.

TTEC (NASDAQ:TTEC) last released its quarterly earnings results on Thursday, February 27th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.09). TTEC had a positive return on equity of 5.00% and a negative net margin of 14.69%. The firm had revenue of $567.44 million for the quarter, compared to analysts’ expectations of $575.73 million. Analysts expect that TTEC will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On TTEC

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in TTEC in the third quarter worth about $59,000. GAMMA Investing LLC lifted its holdings in TTEC by 1,054.6% during the 4th quarter. GAMMA Investing LLC now owns 12,828 shares of the business services provider’s stock worth $64,000 after buying an additional 11,717 shares during the last quarter. Quantbot Technologies LP lifted its holdings in TTEC by 140.5% during the 4th quarter. Quantbot Technologies LP now owns 12,883 shares of the business services provider’s stock worth $64,000 after buying an additional 7,527 shares during the last quarter. Pacific Sun Financial Corp acquired a new position in shares of TTEC in the 4th quarter worth approximately $72,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of TTEC by 77.0% in the 4th quarter. JPMorgan Chase & Co. now owns 16,892 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 7,347 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

About TTEC

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.