Sykes Enterprises, Incorporated (NASDAQ:SYKE) posted its quarterly earnings results on Monday. The information technology services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05, Bloomberg Earnings reports. Sykes Enterprises, had a net margin of 4.41% and a return on equity of 11.39%. The firm had revenue of $375.40 million for the quarter, compared to analyst estimates of $376.83 million. During the same quarter last year, the firm posted $0.36 earnings per share. Sykes Enterprises,’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Sykes Enterprises, (NASDAQ:SYKE) traded down 19.56% during mid-day trading on Tuesday, hitting $26.89. 589,330 shares of the stock were exchanged. The company has a 50 day moving average price of $33.74 and a 200 day moving average price of $30.73. Sykes Enterprises, has a 52 week low of $25.77 and a 52 week high of $34.49. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 16.82 and a beta of 0.75.
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In other news, Director Paul L. Whiting sold 14,164 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $32.75, for a total transaction of $463,871.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jenna Nelson sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $33.99, for a total value of $124,811.28. Following the transaction, the insider now owns 14,520 shares of the company’s stock, valued at $493,534.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,336 shares of company stock valued at $671,182. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Sykes Enterprises, by 48,788.9% in the first quarter. BlackRock Inc. now owns 4,860,043 shares of the information technology services provider’s stock worth $142,885,000 after buying an additional 4,850,102 shares during the period. Norges Bank acquired a new position in shares of Sykes Enterprises, during the fourth quarter worth approximately $19,123,000. Tributary Capital Management LLC acquired a new position in shares of Sykes Enterprises, during the first quarter worth approximately $9,182,000. Dimensional Fund Advisors LP raised its position in shares of Sykes Enterprises, by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,604,490 shares of the information technology services provider’s stock worth $105,971,000 after buying an additional 188,586 shares during the period. Finally, New Amsterdam Partners LLC NY acquired a new position in shares of Sykes Enterprises, during the first quarter worth approximately $5,223,000. Institutional investors own 86.94% of the company’s stock.
Several research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Sykes Enterprises, from $36.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday. Zacks Investment Research lowered shares of Sykes Enterprises, from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th.
About Sykes Enterprises,
Sykes Enterprises, Incorporated is engaged in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena on a global basis. The Company has operations in two segments: the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and EMEA, which includes Europe, the Middle East and Africa.
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