TeleTech Holdings, Inc. $TTEC Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly reduced its stake in TeleTech Holdings, Inc. by 71.3%, selling 107,442 shares and leaving them with 43,264 shares worth $142,000.
• Meanwhile, other institutional investors, such as Deutsche Bank AG and Charles Schwab Investment Management Inc., have increased their holdings in TeleTech, with Deutsche Bank's position rising by 271.7%.
• Brokerages have shifted their ratings for TeleTech, with Zacks Research upgrading the stock to a "hold" and Wall Street Zen changing it to a "buy," reflecting varying confidence among analysts in the company's prospects.

Trexquant Investment LP lowered its stake in shares of TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) by 71.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,264 shares of the business services provider's stock after selling 107,442 shares during the period. Trexquant Investment LP owned 0.09% of TeleTech worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of TeleTech by 271.7% in the 4th quarter. Deutsche Bank AG now owns 31,505 shares of the business services provider's stock valued at $157,000 after acquiring an additional 23,028 shares during the period. Price T Rowe Associates Inc. MD grew its position in TeleTech by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,443 shares of the business services provider's stock worth $182,000 after purchasing an additional 6,273 shares during the period. Federated Hermes Inc. grew its position in TeleTech by 79.3% during the 1st quarter. Federated Hermes Inc. now owns 2,042,183 shares of the business services provider's stock worth $6,719,000 after purchasing an additional 903,090 shares during the period. Squarepoint Ops LLC acquired a new stake in TeleTech during the 4th quarter worth about $286,000. Finally, Charles Schwab Investment Management Inc. grew its position in 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 worth $2,077,000 after purchasing an additional 445,440 shares during the period. Hedge funds and other institutional investors own 38.03% of the company's stock.

TeleTech Stock Performance

Shares of TeleTech stock traded up $0.02 on Tuesday, reaching $3.59. 164,935 shares of the stock were exchanged, compared to its average volume of 292,486. TeleTech Holdings, Inc. has a 1-year low of $2.67 and a 1-year high of $6.28. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.99. The business has a fifty day moving average price of $4.11 and a two-hundred day moving average price of $4.26. The firm has a market capitalization of $173.97 million, a PE ratio of -6.65, a PEG ratio of 0.38 and a beta of 1.18.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TTEC. Zacks Research raised shares of TeleTech to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of TeleTech from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Barrington Research restated a "market perform" rating on shares of TeleTech in a report on Monday, August 18th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TeleTech presently has an average rating of "Hold" and a consensus price target of $3.50.

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.