California Public Employees Retirement System lowered its position in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 4.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,137 shares of the information technology services provider’s stock after selling 6,022 shares during the period. California Public Employees Retirement System owned about 0.32% of Sykes Enterprises worth $3,793,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted 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 in the last quarter. Victory Capital Management Inc. raised its position in 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 valued at $53,914,000 after purchasing an additional 170,805 shares in the last quarter. Boston Partners raised its position in Sykes Enterprises by 2.5% during the first quarter. Boston Partners now owns 1,297,251 shares of the information technology services provider’s stock valued at $36,686,000 after purchasing an additional 32,161 shares in the last quarter. Norges Bank purchased a new stake in Sykes Enterprises during the fourth quarter valued at about $22,939,000. Finally, Geode Capital Management LLC raised its position in Sykes Enterprises by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 650,908 shares of the information technology services provider’s stock valued at $16,096,000 after purchasing an additional 53,567 shares in the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.
A number of equities research analysts have weighed in on SYKE shares. BidaskClub downgraded Sykes Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. SunTrust Banks downgraded Sykes Enterprises from a “buy” rating to a “hold” rating and lowered their price target for the company from $33.00 to $31.00 in a research report on Friday, April 12th. Finally, Zacks Investment Research downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $31.00.
Shares of Sykes Enterprises stock traded up $0.07 during trading hours on Wednesday, hitting $26.55. The company had a trading volume of 115,786 shares, compared to its average volume of 153,765. The company’s 50-day moving average price is $26.01. Sykes Enterprises, Incorporated has a twelve month low of $22.67 and a twelve month high of $31.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $1.13 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.24 and a beta of 0.82.
Sykes Enterprises (NASDAQ:SYKE) last issued its earnings results on Monday, May 6th. The information technology services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Sykes Enterprises had a net margin of 3.08% and a return on equity of 10.53%. The business had revenue of $402.93 million during the quarter, compared to analysts’ expectations of $404.73 million. During the same quarter in the prior year, the business posted $0.43 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that Sykes Enterprises, Incorporated will post 2.15 earnings per share for the current fiscal year.
Sykes Enterprises Profile
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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