Wall Street Zen Upgrades TeleTech (NASDAQ:TTEC) to Buy

Key Points

• TeleTech has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased confidence in the company's potential stock performance.
• As of the latest trading session, TeleTech's stock opened at $3.42 and has a market capitalization of $163.58 million.
• Institutional investors now hold 38.03% of TeleTech's stock, with several hedge funds significantly increasing their stakes in recent quarters.

Wall Street Zen upgraded shares of TeleTech (NASDAQ:TTEC - Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.

TeleTech Price Performance

TTEC traded up $0.05 during midday trading on Friday, hitting $3.65. The company had a trading volume of 112,471 shares, compared to its average volume of 476,717. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.96 and a current ratio of 1.77. The company has a market capitalization of $176.89 million, a PE ratio of -6.78, a P/E/G ratio of 0.36 and a beta of 1.26. TeleTech has a twelve month low of $2.67 and a twelve month high of $6.28. The firm's 50-day simple moving average is $4.79 and its 200-day simple moving average is $4.25.

Institutional Investors Weigh In On TeleTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of TeleTech during the second quarter worth approximately $39,000. XTX Topco Ltd raised its stake in shares of TeleTech by 15.2% during the second quarter. XTX Topco Ltd now owns 43,401 shares of the business services provider's stock worth $209,000 after buying an additional 5,726 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of TeleTech during the second quarter worth approximately $1,491,000. Cetera Investment Advisers acquired a new stake in shares of TeleTech during the second quarter worth $124,000. Finally, Olympiad Research LP acquired a new stake in shares of TeleTech during the second quarter worth $224,000. Institutional investors and hedge funds 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.