Short Interest in TTEC Holdings, Inc. (NASDAQ:TTEC) Declines By 24.4%

TTEC Holdings, Inc. (NASDAQ:TTEC) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,700,000 shares, a decrease of 24.4% from the June 15th total of 3,570,000 shares. Based on an average daily trading volume, of 537,400 shares, the days-to-cover ratio is presently 5.0 days. Approximately 13.9% of the company’s stock are short sold.

Institutional Trading of TTEC

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in TTEC by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,570,247 shares of the business services provider’s stock worth $26,653,000 after acquiring an additional 160,567 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in TTEC by 123.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 502,505 shares of the business services provider’s stock worth $10,889,000 after purchasing an additional 277,860 shares during the period. ProShare Advisors LLC increased its stake in shares of TTEC by 26.0% in the first quarter. ProShare Advisors LLC now owns 364,840 shares of the business services provider’s stock worth $3,783,000 after purchasing an additional 75,212 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of TTEC by 14.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 281,971 shares of the business services provider’s stock valued at $6,110,000 after purchasing an additional 35,546 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in shares of TTEC during the 1st quarter valued at approximately $2,910,000. 38.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on TTEC. Craig Hallum reduced their target price on shares of TTEC from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group reduced their price objective on shares of TTEC from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Finally, Guggenheim started coverage on shares of TTEC in a research report on Tuesday, March 19th. They set a “sell” rating and a $8.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, TTEC currently has a consensus rating of “Hold” and a consensus target price of $15.60.

TTEC Stock Performance

TTEC opened at $6.88 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.61 and a current ratio of 1.61. TTEC has a fifty-two week low of $5.01 and a fifty-two week high of $35.67. The firm has a 50-day moving average of $6.51 and a 200 day moving average of $11.76.

TTEC (NASDAQ:TTEC) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $576.64 million for the quarter, compared to analysts’ expectations of $564.37 million. TTEC had a positive return on equity of 9.61% and a negative net margin of 0.52%. As a group, sell-side analysts forecast that TTEC will post 1.07 EPS for the current fiscal year.

TTEC Company 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.