TeleTech (NASDAQ:TTEC) Raised to "Buy" at Wall Street Zen

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 report published on Saturday.

TeleTech Stock Performance

Shares of TTEC traded up $0.08 during mid-day trading on Friday, reaching $3.50. 702,581 shares of the company's stock traded hands, compared to its average volume of 478,165. The business's 50-day moving average price is $4.84 and its 200-day moving average price is $4.26. The stock has a market capitalization of $169.61 million, a P/E ratio of -6.48, a price-to-earnings-growth ratio of 0.36 and a beta of 1.26. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.96 and a current ratio of 1.77. TeleTech has a 12 month low of $2.67 and a 12 month high of $6.28.

Institutional Investors Weigh In On TeleTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of TeleTech in the second quarter valued at $124,000. Olympiad Research LP bought a new position in shares of TeleTech in the second quarter valued at $224,000. Geode Capital Management LLC increased its holdings in shares of TeleTech by 8.0% in the second quarter. Geode Capital Management LLC now owns 503,241 shares of the business services provider's stock valued at $2,421,000 after buying an additional 37,252 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of TeleTech in the second quarter valued at $262,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of TeleTech in the second quarter valued at $1,130,000. Institutional investors own 38.03% of the company's stock.

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.