Trexquant Investment LP Sells 107,442 Shares of TeleTech Holdings, Inc. $TTEC

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 decreased its position in shares of TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) by 71.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,264 shares of the business services provider's stock after selling 107,442 shares during the period. Trexquant Investment LP owned approximately 0.09% of TeleTech worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Shay Capital LLC bought a new stake in TeleTech during the 4th quarter valued at approximately $86,000. Toronto Dominion Bank acquired a new position in TeleTech during the 4th quarter valued at approximately $117,000. Quantinno Capital Management LP increased its holdings in shares of TeleTech by 24.2% during the 4th quarter. Quantinno Capital Management LP now owns 25,561 shares of the business services provider's stock valued at $128,000 after purchasing an additional 4,981 shares in the last quarter. AE Wealth Management LLC grew its position in shares of TeleTech by 27.1% in the first quarter. AE Wealth Management LLC now owns 26,048 shares of the business services provider's stock valued at $86,000 after purchasing an additional 5,560 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in TeleTech during the fourth quarter worth about $142,000. Hedge funds and other institutional investors own 38.03% of the company's stock.

Analyst Ratings Changes

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

TeleTech Trading Down 3.3%

TTEC stock traded down $0.12 during midday trading on Friday, reaching $3.57. The stock had a trading volume of 452,593 shares, compared to its average volume of 280,183. The business has a fifty day simple moving average of $4.17 and a two-hundred day simple moving average of $4.26. The firm has a market cap of $173.00 million, a price-to-earnings ratio of -6.61, a PEG ratio of 0.39 and a beta of 1.18. TeleTech Holdings, Inc. has a twelve month low of $2.67 and a twelve month high of $6.28. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.99.

TeleTech 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.