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

TTEC (NASDAQ:TTEC) had its target price decreased by Canaccord Genuity Group from $4.50 to $3.50 in a research note issued to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the business services provider’s stock.

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

TTEC Price Performance

Shares of TTEC stock opened at $3.41 on Monday. The stock has a 50 day moving average of $3.91 and a two-hundred day moving average of $4.61. 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 12 month low of $3.31 and a 12 month high of $12.08. The company has a market capitalization of $162.76 million, a P/E ratio of -0.49, a P/E/G ratio of 1.53 and a beta of 1.04.

TTEC (NASDAQ:TTEC) last announced its quarterly earnings data on Thursday, February 27th. The business services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $575.73 million. As a group, equities analysts expect that TTEC will post 0.33 EPS for the current year.

Hedge Funds Weigh In On TTEC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank bought a new position in TTEC in the 4th quarter valued at $117,000. Union Square Park Capital Management LLC bought a new position in TTEC in the 4th quarter valued at $4,441,000. Squarepoint Ops LLC bought a new position in TTEC in the 4th quarter valued at $286,000. Two Sigma Advisers LP raised its position in TTEC by 6.5% in the 4th quarter. Two Sigma Advisers LP now owns 905,500 shares of the business services provider’s stock valued at $4,518,000 after purchasing an additional 55,400 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in TTEC by 5.1% in the 4th quarter. Two Sigma Investments LP now owns 715,385 shares of the business services provider’s stock valued at $3,570,000 after purchasing an additional 34,703 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

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.