Federated Hermes Inc. Purchases 903,090 Shares of TeleTech Holdings, Inc. (NASDAQ:TTEC)

Key Points

• Federated Hermes Inc. increased its stake in TeleTech Holdings by 79.3% during the first quarter, purchasing an additional 903,090 shares to bring its total ownership to 2,042,183 shares.
• Institutional investors collectively own 38.03% of TeleTech's stock, with several firms, including AE Wealth Management LLC and Union Square Park Capital Management, recently increasing their stakes.
• Analysts have downgraded TeleTech's stock from a "buy" to a "hold" rating, indicating a shift in market sentiment regarding the company's performance.

Federated Hermes Inc. boosted its position in TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) by 79.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,042,183 shares of the business services provider's stock after buying an additional 903,090 shares during the period. Federated Hermes Inc. owned approximately 4.27% of TeleTech worth $6,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. AE Wealth Management LLC grew its position 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 in the last quarter. SummerHaven Investment Management LLC grew its position in shares of TeleTech by 3.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 131,506 shares of the business services provider's stock valued at $433,000 after acquiring an additional 3,804 shares during the period. Chancellor Financial Group WB LP bought a new position in shares of TeleTech during the 4th quarter valued at approximately $143,000. Toronto Dominion Bank purchased a new stake in shares of TeleTech during the 4th quarter valued at approximately $117,000. Finally, Union Square Park Capital Management LLC purchased a new stake in shares of TeleTech during the 4th quarter valued at approximately $4,441,000. Institutional investors and hedge funds own 38.03% of the company's stock.

TeleTech Price Performance

NASDAQ:TTEC traded down $0.21 during midday trading on Wednesday, hitting $2.73. The company had a trading volume of 568,401 shares, compared to its average volume of 463,231. TeleTech Holdings, Inc. has a 52-week low of $2.67 and a 52-week high of $6.28. The stock's fifty day moving average price is $4.96 and its 200-day moving average price is $4.27. The company has a market capitalization of $130.62 million, a PE ratio of -0.41, a P/E/G ratio of 0.31 and a beta of 1.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 3.42.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of TeleTech from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th.

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.