StarTek, Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $14.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.46% from the stock’s previous close.
According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Shares of StarTek (SRT) opened at 12.56 on Tuesday. The stock has a 50 day moving average price of $11.22 and a 200 day moving average price of $9.34. The firm has a market capitalization of $199.68 million, a P/E ratio of 95.88 and a beta of -0.07. StarTek has a 52 week low of $4.15 and a 52 week high of $14.78.
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In related news, Director Arnaud Ajdler sold 119,919 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $11.35, for a total transaction of $1,361,080.65. Following the transaction, the director now owns 37,507 shares in the company, valued at $425,704.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.80% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the company. KCG Holdings Inc. acquired a new stake in shares of StarTek during the first quarter worth $123,000. O Shaughnessy Asset Management LLC boosted its stake in shares of StarTek by 393.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,104 shares of the business services provider’s stock worth $149,000 after buying an additional 13,639 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of StarTek by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 22,443 shares of the business services provider’s stock worth $195,000 after buying an additional 1,000 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of StarTek by 202.4% in the first quarter. Russell Investments Group Ltd. now owns 30,204 shares of the business services provider’s stock worth $262,000 after buying an additional 20,216 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of StarTek by 70.6% in the first quarter. Acadian Asset Management LLC now owns 150,761 shares of the business services provider’s stock worth $1,307,000 after buying an additional 62,407 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.
StarTek Company Profile
StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.
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