Russell Investments Group Ltd. Buys 20,130 Shares of TTEC Holdings, Inc. (NASDAQ:TTEC)

Posted by Defense World Staff on May 18th, 2023

Russell Investments Group Ltd. increased its stake in shares of TTEC Holdings, Inc. (NASDAQ:TTEC – Get Rating) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,797 shares of the business services provider’s stock after buying an additional 20,130 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of TTEC worth $4,316,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in TTEC by 15.3% in the 1st quarter. JPMorgan Chase & Co. now owns 178,519 shares of the business services provider’s stock valued at $14,732,000 after purchasing an additional 23,670 shares during the period. Raymond James & Associates grew its stake in TTEC by 73.8% in the 1st quarter. Raymond James & Associates now owns 8,832 shares of the business services provider’s stock valued at $729,000 after purchasing an additional 3,750 shares during the period. PNC Financial Services Group Inc. grew its stake in TTEC by 13.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,002 shares of the business services provider’s stock valued at $166,000 after purchasing an additional 238 shares during the period. Bank of Montreal Can grew its stake in TTEC by 3.3% in the 1st quarter. Bank of Montreal Can now owns 7,619 shares of the business services provider’s stock valued at $654,000 after purchasing an additional 241 shares during the period. Finally, MetLife Investment Management LLC grew its stake in TTEC by 57.8% in the 1st quarter. MetLife Investment Management LLC now owns 10,010 shares of the business services provider’s stock valued at $826,000 after purchasing an additional 3,667 shares during the period. Institutional investors own 36.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Craig Hallum dropped their price target on TTEC from $60.00 to $50.00 in a research report on Wednesday, March 1st. StockNews.com assumed coverage on TTEC in a research report on Thursday. They set a “hold” rating on the stock. Bank of America dropped their price target on TTEC from $45.00 to $40.00 in a research report on Thursday, May 4th. Cowen dropped their price target on TTEC from $44.00 to $42.00 in a research report on Wednesday, March 1st. Finally, Barrington Research cut TTEC from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, TTEC currently has an average rating of “Hold” and a consensus price target of $53.57.

TTEC Stock Performance

Shares of TTEC opened at $32.79 on Thursday. The stock’s 50-day simple moving average is $35.43 and its 200 day simple moving average is $42.68. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.01. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.66 and a current ratio of 1.66. TTEC Holdings, Inc. has a 52-week low of $31.99 and a 52-week high of $77.11.

TTEC (NASDAQ:TTEC – Get Rating) last announced its earnings results on Monday, February 27th. The business services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $658.28 million for the quarter, compared to analyst estimates of $628.78 million. TTEC had a return on equity of 25.82% and a net margin of 3.56%. Research analysts forecast that TTEC Holdings, Inc. will post 2.3 EPS for the current fiscal year.

TTEC Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, April 20th. Shareholders of record on Friday, March 31st were paid a $0.52 dividend. The ex-dividend date was Thursday, March 30th. This represents a yield of 2.5%. TTEC’s dividend payout ratio is currently 55.91%.

TTEC Profile

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TTEC Holdings, Inc is a digital global customer experience technology and services company. It focuses on the design, implementation and delivery of transformative solutions for many of brands. The firm operates through the following segments: TTEC Digital and TTEC Engage. The TTEC Digital segment provides design, build and operate tech-enabled, insight-driven CX solutions.