Walleye Capital LLC Cuts Stake in TeleTech Holdings, Inc. $TTEC

Key Points

• Walleye Capital LLC has reduced its stake in TeleTech Holdings by 23.2%, now owning 295,124 shares valued at approximately $971,000.
• Other institutional investors have increased their holdings, with JPMorgan Chase & Co. raising its stake by 77.0% in the last quarter.
• TeleTech's stock has received a consensus rating of "Hold" with an average price target of $3.50, and it currently trades at around $3.79.

Walleye Capital LLC lowered its stake in shares of TeleTech Holdings, Inc. (NASDAQ:TTEC - Free Report) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,124 shares of the business services provider's stock after selling 89,353 shares during the quarter. Walleye Capital LLC owned about 0.62% of TeleTech worth $971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of TeleTech by 77.0% in the fourth quarter. JPMorgan Chase & Co. now owns 16,892 shares of the business services provider's stock worth $84,000 after purchasing an additional 7,347 shares during the last quarter. Shay Capital LLC purchased a new stake in shares of TeleTech in the fourth quarter valued at approximately $86,000. Toronto Dominion Bank acquired a new stake in shares of TeleTech in the fourth quarter worth approximately $117,000. Corton Capital Inc. acquired a new stake in shares of TeleTech in the fourth quarter worth approximately $124,000. Finally, Quantinno Capital Management LP boosted its stake in shares of TeleTech by 24.2% in the fourth quarter. Quantinno Capital Management LP now owns 25,561 shares of the business services provider's stock worth $128,000 after acquiring an additional 4,981 shares during the last quarter. Institutional investors and hedge funds own 38.03% of the company's stock.

Wall Street Analyst Weigh In

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

TeleTech Stock Up 1.9%

Shares of NASDAQ TTEC opened at $3.79 on Friday. TeleTech Holdings, Inc. has a 52-week low of $2.67 and a 52-week high of $6.28. The business has a 50-day moving average price of $4.41 and a 200 day moving average price of $4.26. 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 market cap of $183.66 million, a PE ratio of -7.02, a price-to-earnings-growth ratio of 0.40 and a beta of 1.26.

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.

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