Sykes Enterprises, Incorporated (SYKE) CEO Sells $1,246,800.00 in Stock

Sykes Enterprises, Incorporated (NASDAQ:SYKE) CEO Charles E. Sykes sold 40,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $31.17, for a total value of $1,246,800.00. Following the transaction, the chief executive officer now owns 285,189 shares of the company’s stock, valued at $8,889,341.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Sykes Enterprises, Incorporated (NASDAQ SYKE) opened at $30.75 on Thursday. Sykes Enterprises, Incorporated has a twelve month low of $25.77 and a twelve month high of $34.49. The company has a market capitalization of $1,329.82, a PE ratio of 15.12, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.33.

Sykes Enterprises (NASDAQ:SYKE) last announced its earnings results on Monday, November 6th. The information technology services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. Sykes Enterprises had a return on equity of 11.33% and a net margin of 4.32%. The company had revenue of $407.31 million during the quarter, compared to analysts’ expectations of $399.22 million. During the same period last year, the business posted $0.55 EPS. Sykes Enterprises’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts anticipate that Sykes Enterprises, Incorporated will post 1.93 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its holdings in Sykes Enterprises by 190.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,725 shares of the information technology services provider’s stock valued at $342,000 after acquiring an additional 7,686 shares during the period. California Public Employees Retirement System boosted its holdings in Sykes Enterprises by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 157,252 shares of the information technology services provider’s stock valued at $4,585,000 after acquiring an additional 8,687 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new position in Sykes Enterprises during the 3rd quarter valued at about $623,000. Convergence Investment Partners LLC purchased a new position in Sykes Enterprises during the 3rd quarter valued at about $1,708,000. Finally, Pinebridge Investments L.P. boosted its holdings in Sykes Enterprises by 21.5% during the 3rd quarter. Pinebridge Investments L.P. now owns 42,374 shares of the information technology services provider’s stock valued at $1,236,000 after acquiring an additional 7,498 shares during the period. Institutional investors own 85.72% of the company’s stock.

A number of equities analysts have recently weighed in on SYKE shares. Zacks Investment Research cut Sykes Enterprises from a “hold” rating to a “strong sell” rating in a report on Saturday, August 12th. SunTrust Banks reiterated a “buy” rating and set a $34.00 price target on shares of Sykes Enterprises in a report on Monday, October 9th. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $29.00 price target on shares of Sykes Enterprises in a report on Sunday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.50.

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Sykes Enterprises Company Profile

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.

Insider Buying and Selling by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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