TeleTech (NASDAQ:TTEC) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• TeleTech (NASDAQ:TTEC) has received a "sell (E+)" rating from Weiss Ratings, indicating a negative outlook for the company's stock.
• Despite the sell rating, some analysts have varied views, with Barrington Research maintaining a "market perform" rating, while Wall Street Zen upgraded the stock to a "buy" rating.
• TTEC's stock price saw a 3.2% increase on Wednesday, reaching $3.85, but the stock has a consensus rating of "Reduce" with an average price target of $3.50.

TeleTech (NASDAQ:TTEC - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on TTEC. Barrington Research reissued a "market perform" rating on shares of TeleTech in a research report on Monday, August 18th. Zacks Research raised TeleTech to a "hold" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised TeleTech from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, TeleTech has a consensus rating of "Reduce" and an average price target of $3.50.

TeleTech Stock Up 3.2%

Shares of TTEC traded up $0.12 during midday trading on Wednesday, hitting $3.85. 353,675 shares of the company's stock traded hands, compared to its average volume of 327,679. 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 firm's fifty day moving average is $3.60 and its 200-day moving average is $4.27. TeleTech has a 1 year low of $2.67 and a 1 year high of $6.17. The stock has a market capitalization of $186.57 million, a price-to-earnings ratio of -7.13, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18.

Hedge Funds Weigh In On TeleTech

Hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP grew its holdings in TeleTech by 8.7% during the 2nd quarter. Engineers Gate Manager LP now owns 56,826 shares of the business services provider's stock worth $273,000 after acquiring an additional 4,532 shares in the last quarter. Harvest Management LLC bought a new position in shares of TeleTech in the 2nd quarter worth about $48,000. Federated Hermes Inc. lifted its position in shares of TeleTech by 0.8% in the 2nd quarter. Federated Hermes Inc. now owns 2,058,176 shares of the business services provider's stock worth $9,900,000 after buying an additional 15,993 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in TeleTech in the 2nd quarter valued at about $39,000. Finally, XTX Topco Ltd lifted its position in TeleTech by 15.2% in the 2nd quarter. XTX Topco Ltd now owns 43,401 shares of the business services provider's stock valued at $209,000 after purchasing an additional 5,726 shares during the last quarter. Hedge funds and other institutional investors own 38.03% of the company's stock.

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.

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