BlackRock Inc. Buys 328,065 Shares of Sykes Enterprises, Incorporated (SYKE)

BlackRock Inc. increased its stake in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 6.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,484,321 shares of the information technology services provider’s stock after purchasing an additional 328,065 shares during the period. BlackRock Inc. owned 12.81% of Sykes Enterprises worth $157,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SYKE. Robeco Institutional Asset Management B.V. purchased a new stake in Sykes Enterprises during the 2nd quarter worth about $124,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Sykes Enterprises in the 2nd quarter valued at about $205,000. Profund Advisors LLC purchased a new stake in shares of Sykes Enterprises in the 1st quarter valued at about $207,000. Pitcairn Co. purchased a new stake in shares of Sykes Enterprises in the 1st quarter valued at about $207,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Sykes Enterprises in the 2nd quarter valued at about $242,000. 87.34% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SYKE opened at $30.12 on Friday. Sykes Enterprises, Incorporated has a twelve month low of $25.90 and a twelve month high of $32.15. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.90 and a current ratio of 2.90.

Sykes Enterprises (NASDAQ:SYKE) last released its quarterly earnings results on Monday, August 6th. The information technology services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.09. Sykes Enterprises had a return on equity of 10.28% and a net margin of 1.39%. The firm had revenue of $396.80 million for the quarter, compared to analysts’ expectations of $402.95 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. research analysts expect that Sykes Enterprises, Incorporated will post 2.07 earnings per share for the current fiscal year.

Several research firms have weighed in on SYKE. BidaskClub cut Sykes Enterprises from a “buy” rating to a “hold” rating in a report on Monday. TheStreet cut Sykes Enterprises from a “b-” rating to a “c+” rating in a report on Tuesday, August 21st. ValuEngine raised Sykes Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Barrington Research reaffirmed a “hold” rating on shares of Sykes Enterprises in a report on Monday, August 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $36.00 price target on shares of Sykes Enterprises in a report on Friday, July 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.67.

In other news, VP James T. Holder sold 8,300 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $30.05, for a total transaction of $249,415.00. Following the transaction, the vice president now directly owns 19,706 shares in the company, valued at approximately $592,165.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

About Sykes Enterprises

Sykes Enterprises, Incorporated, together with its subsidiaries, provides multichannel demand generation and global customer engagement services. Its customer care services include handling billing inquiries and claims, activating customer accounts, resolving complaints, cross-selling/up-selling, and prequalifying and warranty management, as well as providing health information and dispatching roadside assistance.

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Institutional Ownership by Quarter for Sykes Enterprises (NASDAQ:SYKE)

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