Allspring Global Investments Holdings LLC Makes New $1.13 Million Investment in TeleTech Holdings, Inc. $TTEC

Key Points

• Allspring Global Investments Holdings LLC has acquired a new stake in TeleTech Holdings, Inc. worth approximately $1.13 million, purchasing 234,980 shares in the 2nd quarter.
• Multiple hedge funds, including Federated Hermes Inc. and Charles Schwab Investment Management Inc., have significantly increased their holdings in TeleTech in the recent quarter, showcasing growing institutional interest.
• TeleTech currently has a consensus rating of "Reduce" with an average target price of $3.50 as assessed by several research firms, including Zacks and Barrington Research.

Allspring Global Investments Holdings LLC purchased a new stake in TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 234,980 shares of the business services provider's stock, valued at approximately $1,130,000. Allspring Global Investments Holdings LLC owned 0.49% of TeleTech as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in TeleTech by 79.3% during the first quarter. Federated Hermes Inc. now owns 2,042,183 shares of the business services provider's stock worth $6,719,000 after acquiring an additional 903,090 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of TeleTech by 239.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 631,356 shares of the business services provider's stock valued at $2,077,000 after purchasing an additional 445,440 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TeleTech by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 565,274 shares of the business services provider's stock valued at $1,860,000 after purchasing an additional 22,247 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new stake in TeleTech during the 1st quarter worth approximately $658,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in TeleTech during the 1st quarter worth approximately $487,000. Institutional investors and hedge funds own 38.03% of the company's stock.

Analysts Set New Price Targets

TTEC has been the subject of several research reports. Barrington Research reissued a "market perform" rating on shares of TeleTech in a research report on Monday, August 18th. Weiss Ratings reiterated a "sell (e+)" rating on shares of TeleTech in a report on Wednesday, October 8th. Wall Street Zen raised TeleTech from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised TeleTech to a "hold" rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, TeleTech currently has a consensus rating of "Reduce" and an average target price of $3.50.

TeleTech Trading Down 3.3%

Shares of TeleTech stock opened at $3.53 on Thursday. TeleTech Holdings, Inc. has a 12-month low of $2.67 and a 12-month high of $5.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.99. The business's 50 day moving average is $3.63 and its 200-day moving average is $4.26. The stock has a market cap of $171.06 million, a P/E ratio of -6.54, a P/E/G ratio of 0.39 and a beta of 1.18.

About TeleTech

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.

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