Laurion Capital Management LP Takes Position in Sykes Enterprises, Incorporated (SYKE)

Laurion Capital Management LP purchased a new position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,536 shares of the information technology services provider’s stock, valued at approximately $355,000.

Several other institutional investors have also recently added to or reduced their stakes in SYKE. Norges Bank bought a new position in shares of Sykes Enterprises during the fourth quarter worth about $22,939,000. BlackRock Inc. grew its position in shares of Sykes Enterprises by 3.6% during the fourth quarter. BlackRock Inc. now owns 5,902,460 shares of the information technology services provider’s stock worth $145,968,000 after acquiring an additional 206,480 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Sykes Enterprises by 9.8% during the first quarter. Victory Capital Management Inc. now owns 1,906,423 shares of the information technology services provider’s stock worth $53,914,000 after acquiring an additional 170,805 shares during the last quarter. Boston Partners grew its position in shares of Sykes Enterprises by 7.1% during the fourth quarter. Boston Partners now owns 1,265,090 shares of the information technology services provider’s stock worth $31,286,000 after acquiring an additional 83,866 shares during the last quarter. Finally, Tributary Capital Management LLC grew its position in shares of Sykes Enterprises by 14.7% during the first quarter. Tributary Capital Management LLC now owns 623,692 shares of the information technology services provider’s stock worth $17,638,000 after acquiring an additional 79,989 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

In related news, insider Jenna Nelson sold 12,800 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $29.99, for a total value of $383,872.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

SYKE stock opened at $25.30 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.20 and a beta of 0.75. Sykes Enterprises, Incorporated has a fifty-two week low of $22.67 and a fifty-two week high of $31.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.27 and a quick ratio of 2.27.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings data on Monday, May 6th. The information technology services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $402.93 million during the quarter, compared to the consensus estimate of $404.73 million. Sykes Enterprises had a net margin of 3.08% and a return on equity of 10.53%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, analysts anticipate that Sykes Enterprises, Incorporated will post 2.15 EPS for the current fiscal year.

Several research firms have recently commented on SYKE. Zacks Investment Research lowered shares of Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. BidaskClub lowered shares of Sykes Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. ValuEngine raised shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, SunTrust Banks downgraded shares of Sykes Enterprises from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.00.

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About Sykes Enterprises

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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