Sykes Enterprises, Incorporated (NASDAQ:SYKE) had its price objective trimmed by Robert W. Baird from $36.00 to $30.00 in a research report report published on Tuesday, August 8th. The firm currently has a neutral rating on the information technology services provider’s stock.
Separately, Zacks Investment Research lowered shares of Sykes Enterprises, from a strong-buy rating to a hold rating in a research note on Tuesday, July 18th.
Shares of Sykes Enterprises, (NASDAQ:SYKE) traded down 0.80% during trading on Tuesday, reaching $26.14. The company’s stock had a trading volume of 318,849 shares. The company has a market cap of $1.09 billion, a PE ratio of 16.44 and a beta of 0.75. The company has a 50 day moving average of $31.90 and a 200 day moving average of $30.68. Sykes Enterprises, has a 12-month low of $25.77 and a 12-month high of $34.49.
Sykes Enterprises, (NASDAQ:SYKE) last issued its quarterly earnings results on Monday, August 7th. The information technology services provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.05. The firm had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. Sykes Enterprises, had a net margin of 4.36% and a return on equity of 11.21%. Sykes Enterprises,’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.36 EPS. On average, analysts anticipate that Sykes Enterprises, will post $1.80 EPS for the current fiscal year.
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In other news, insider Jenna Nelson sold 3,672 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $33.99, for a total transaction of $124,811.28. Following the completion of the sale, the insider now owns 14,520 shares in the company, valued at approximately $493,534.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James T. Holder sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $33.00, for a total transaction of $82,500.00. Following the sale, the vice president now owns 19,119 shares of the company’s stock, valued at approximately $630,927. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC increased its stake in Sykes Enterprises, by 57.9% in the second quarter. Riverhead Capital Management LLC now owns 3,631 shares of the information technology services provider’s stock valued at $122,000 after buying an additional 1,331 shares during the period. Public Employees Retirement System of Ohio increased its stake in Sykes Enterprises, by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,759 shares of the information technology services provider’s stock valued at $111,000 after buying an additional 177 shares during the period. State of Alaska Department of Revenue increased its stake in Sykes Enterprises, by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 4,360 shares of the information technology services provider’s stock valued at $128,000 after buying an additional 70 shares during the period. Mckinley Capital Management LLC Delaware bought a new stake in Sykes Enterprises, during the first quarter valued at $134,000. Finally, Dubuque Bank & Trust Co. bought a new stake in Sykes Enterprises, during the first quarter valued at $140,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Sykes Enterprises, Company Profile
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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