Charles Schwab Investment Management Inc. Buys 445,440 Shares of TeleTech Holdings, Inc. $TTEC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in TeleTech Holdings, Inc. by 239.6%, adding 445,440 shares to its portfolio, now totaling 631,356 shares worth approximately $2,077,000.
• Institutional ownership for TeleTech currently stands at 38.03%, with several significant investors, including Deutsche Bank AG and Federated Hermes Inc., also increasing their positions.
• Analysts have upgraded TeleTech's stock rating, with Wall Street Zen changing it from "hold" to "buy," and the consensus rating remains a "Hold" with an average target price of $3.50.

Charles Schwab Investment Management Inc. lifted its position in TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) by 239.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 631,356 shares of the business services provider's stock after buying an additional 445,440 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.32% of TeleTech worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new position in shares of TeleTech in the 1st quarter worth $487,000. XTX Topco Ltd purchased a new position in shares of TeleTech in the 1st quarter worth $124,000. Federated Hermes Inc. boosted its stake in shares of TeleTech by 79.3% in the 1st quarter. Federated Hermes Inc. now owns 2,042,183 shares of the business services provider's stock worth $6,719,000 after buying an additional 903,090 shares during the last quarter. AE Wealth Management LLC raised its holdings in TeleTech by 27.1% in the 1st quarter. AE Wealth Management LLC now owns 26,048 shares of the business services provider's stock worth $86,000 after purchasing an additional 5,560 shares during the period. Finally, SummerHaven Investment Management LLC raised its holdings in TeleTech by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 131,506 shares of the business services provider's stock worth $433,000 after purchasing an additional 3,804 shares during the period. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

TeleTech Price Performance

NASDAQ:TTEC traded down $0.04 on Friday, reaching $3.78. 314,101 shares of the company's stock traded hands, compared to its average volume of 399,300. 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 stock has a 50-day simple moving average of $4.30 and a 200-day simple moving average of $4.26. The firm has a market cap of $183.18 million, a PE ratio of -7.00, a P/E/G ratio of 0.40 and a beta of 1.18. TeleTech Holdings, Inc. has a 12 month low of $2.67 and a 12 month high of $6.28.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research raised TeleTech to a "hold" rating in a report on Friday, August 8th. Wall Street Zen raised TeleTech from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Barrington Research reaffirmed a "market perform" rating on shares of TeleTech in a report on Monday, August 18th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $3.50.

TeleTech 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.