Federated Hermes Inc. Acquires 211,606 Shares of TTEC Holdings, Inc. (NASDAQ:TTEC)

Federated Hermes Inc. boosted its holdings in TTEC Holdings, Inc. (NASDAQ:TTEC) by 2,053.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,910 shares of the business services provider’s stock after buying an additional 211,606 shares during the quarter. Federated Hermes Inc. owned approximately 0.47% of TTEC worth $4,809,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd raised its holdings in TTEC by 43,433.3% in the 3rd quarter. Covestor Ltd now owns 1,306 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,303 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of TTEC by 62.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,084 shares of the business services provider’s stock worth $81,000 after buying an additional 1,185 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of TTEC during the 4th quarter worth approximately $206,000. Graham Capital Management L.P. acquired a new stake in shares of TTEC during the 3rd quarter worth approximately $225,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of TTEC during the 3rd quarter worth approximately $301,000. Institutional investors own 38.03% of the company’s stock.

Analyst Upgrades and Downgrades

TTEC has been the subject of several recent analyst reports. Barrington Research downgraded shares of TTEC from an “outperform” rating to a “market perform” rating in a research report on Monday, March 4th. Guggenheim initiated coverage on shares of TTEC in a research report on Tuesday, March 19th. They issued a “sell” rating and a $8.00 price target for the company. Canaccord Genuity Group reissued a “hold” rating and issued a $13.00 price target (down previously from $30.00) on shares of TTEC in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group downgraded shares of TTEC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

TTEC Price Performance

TTEC opened at $7.72 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $366.31 million, a price-to-earnings ratio of 42.89, a P/E/G ratio of 0.86 and a beta of 0.99. The firm’s fifty day moving average price is $11.26 and its two-hundred day moving average price is $17.18. TTEC Holdings, Inc. has a 1 year low of $7.66 and a 1 year high of $36.70.

TTEC (NASDAQ:TTEC) last posted its quarterly earnings data on Thursday, February 29th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The firm had revenue of $626.18 million for the quarter, compared to analysts’ expectations of $602.98 million. TTEC had a return on equity of 13.74% and a net margin of 0.34%. As a group, analysts anticipate that TTEC Holdings, Inc. will post 1.16 earnings per share for the current fiscal year.

TTEC Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.06 per share. This represents a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, April 2nd. TTEC’s dividend payout ratio is 66.67%.

TTEC 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.