Municipal Employees Retirement System of Michigan grew its position in TeleTech Holdings, Inc. (NASDAQ:TTEC) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,350 shares of the business services provider’s stock after acquiring an additional 1,620 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in TeleTech were worth $223,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in TeleTech by 146.9% during the second quarter. Goldman Sachs Group Inc. now owns 127,711 shares of the business services provider’s stock worth $5,211,000 after buying an additional 75,993 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in TeleTech during the second quarter worth approximately $274,000. Schwab Charles Investment Management Inc. lifted its position in TeleTech by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 83,442 shares of the business services provider’s stock worth $2,470,000 after buying an additional 4,251 shares in the last quarter. Shell Asset Management Co. lifted its position in TeleTech by 75.6% during the third quarter. Shell Asset Management Co. now owns 50,282 shares of the business services provider’s stock worth $1,236,000 after buying an additional 21,646 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in TeleTech during the second quarter worth approximately $807,000. Institutional investors and hedge funds own 24.88% of the company’s stock.
In other TeleTech news, SVP Steven C. Pollema sold 9,000 shares of TeleTech stock in a transaction on Monday, November 20th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 70.00% of the stock is owned by insiders.
TeleTech (NASDAQ:TTEC) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. TeleTech had a return on equity of 19.24% and a net margin of 3.45%. The company had revenue of $359.04 million for the quarter, compared to the consensus estimate of $348.94 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. equities research analysts expect that TeleTech Holdings, Inc. will post 1.75 EPS for the current fiscal year.
A number of brokerages recently commented on TTEC. BidaskClub downgraded TeleTech from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded TeleTech from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks restated a “hold” rating and issued a $43.00 target price on shares of TeleTech in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded TeleTech from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $43.50.
TeleTech Company Profile
TeleTech Holdings, Inc (TeleTech) is a customer service provider that delivers consulting, technology, growth and customer care solutions on a global scale. The Company operates through four segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).
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