Pinebridge Investments L.P. Trims Stake in Sykes Enterprises, Incorporated (SYKE)

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Pinebridge Investments L.P. trimmed its stake in shares of Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,028 shares of the information technology services provider’s stock after selling 2,288 shares during the period. Pinebridge Investments L.P.’s holdings in Sykes Enterprises were worth $2,130,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. lifted its position in shares of Sykes Enterprises by 13.7% during the 1st quarter. Prudential Financial Inc. now owns 237,648 shares of the information technology services provider’s stock valued at $6,878,000 after acquiring an additional 28,614 shares during the period. Wells Fargo & Company MN lifted its position in shares of Sykes Enterprises by 1.8% during the 1st quarter. Wells Fargo & Company MN now owns 1,203,776 shares of the information technology services provider’s stock valued at $34,837,000 after acquiring an additional 20,767 shares during the period. First National Bank of Omaha lifted its position in shares of Sykes Enterprises by 22.3% during the 1st quarter. First National Bank of Omaha now owns 47,594 shares of the information technology services provider’s stock valued at $1,377,000 after acquiring an additional 8,694 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of Sykes Enterprises during the 1st quarter valued at approximately $316,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Sykes Enterprises by 6.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 343,948 shares of the information technology services provider’s stock valued at $9,954,000 after acquiring an additional 21,333 shares during the period. Institutional investors own 87.67% of the company’s stock.

Shares of SYKE opened at $30.41 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.90. Sykes Enterprises, Incorporated has a 1-year low of $25.90 and a 1-year high of $32.15. The company has a market cap of $1.27 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76.

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

In other news, VP James T. Holder sold 8,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $30.05, for a total transaction of $249,415.00. Following the completion of the transaction, the vice president now directly owns 19,706 shares of the company’s stock, valued at approximately $592,165.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

A number of research firms have recently issued reports on SYKE. BidaskClub upgraded shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a research report on Thursday. TheStreet downgraded shares of Sykes Enterprises from a “b-” rating to a “c+” rating in a research report on Tuesday, August 21st. ValuEngine upgraded shares of Sykes Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Barrington Research reiterated a “hold” rating on shares of Sykes Enterprises in a research report on Monday, August 6th. Finally, SunTrust Banks reiterated a “buy” rating and set a $36.00 price target on shares of Sykes Enterprises in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Sykes Enterprises presently has an average rating of “Hold” and a consensus price target of $31.67.

Sykes Enterprises Company Profile

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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