Sykes Enterprises, Incorporated (NASDAQ:SYKE) Short Interest Up 8.2% in July

Sykes Enterprises, Incorporated (NASDAQ:SYKE) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 1,631,300 shares, an increase of 8.2% from the June 30th total of 1,507,300 shares. Based on an average daily trading volume, of 163,700 shares, the days-to-cover ratio is currently 10.0 days. Approximately 4.1% of the company’s stock are sold short.

A number of research analysts recently issued reports on the company. TheStreet upgraded Sykes Enterprises from a “c+” rating to a “b-” rating in a report on Wednesday, July 24th. Sidoti decreased their price objective on Sykes Enterprises from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. ValuEngine downgraded Sykes Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BidaskClub upgraded Sykes Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sykes Enterprises presently has a consensus rating of “Hold” and an average price target of $33.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYKE. Versant Capital Management Inc lifted its position in shares of Sykes Enterprises by 68.4% in the first quarter. Versant Capital Management Inc now owns 1,135 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 461 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Sykes Enterprises by 3,276.7% in the first quarter. Meeder Asset Management Inc. now owns 1,452 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 1,409 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Sykes Enterprises in the first quarter valued at approximately $51,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Sykes Enterprises in the first quarter valued at approximately $202,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Sykes Enterprises in the second quarter valued at approximately $203,000. 89.61% of the stock is owned by institutional investors.

SYKE stock traded up $0.07 during mid-day trading on Thursday, reaching $28.08. The company had a trading volume of 109,094 shares, compared to its average volume of 154,578. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $27.75. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.35 and a beta of 0.84. Sykes Enterprises has a 52 week low of $22.67 and a 52 week high of $31.47.

Sykes Enterprises (NASDAQ:SYKE) last posted its quarterly earnings results on Tuesday, July 30th. The information technology services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. The firm had revenue of $389.00 million during the quarter, compared to the consensus estimate of $395.88 million. Sykes Enterprises had a return on equity of 10.36% and a net margin of 3.35%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. On average, equities analysts predict that Sykes Enterprises will post 2.1 EPS for the current year.

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.

Further Reading: How Do You Calculate Return on Investment (ROI)?

Receive News & Ratings for Sykes Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sykes Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.